NVIDIA, the massive semiconductor company behind the chips powering artificial intelligence infrastructure worldwide, has had one of the more impressive short-term recoveries on any chart I’ve looked at recently.
Off the March 30 pivot low, price has pushed over 21% higher in just 12 sessions. It is trading around $199 as of this morning. The gap fill at $206.88 is the level that matters right now. That level sits just above current price, and if the semiconductor sector keeps pushing, NVDA is going to get there.
After a 21% run in less than two weeks, $206.88 is where I’d be watching most closely for a reversal. Above the gap fill, the resistance levels (marked in yellow on the chart) start to stack up quickly.
The pivot high at $211.34 is the next level overhead, and just above that sits the all-time high at $212.19. Those two levels are close enough together that if price pushes through $206.88 without reversing, the $211–$212 zone becomes the next meaningful area of resistance. That’s been capping price on every prior approach, and there is no reason to expect a different outcome without a significant shift in momentum, especially with the current momentum pushing higher.
For both aggressive and conservative traders, the gap fill at $206.88 is the shared target on this setup. A sustained move above $206.88 with a close above the pivot high at $211.34 is the next level to see a reversal with a forceful move up. The structure right now favors the sellers at $206.88, provided the rejection shows up when price gets there.
Source: https://www.fxstreet.com/news/nvda-has-ripped-21-in-12-days-now-its-heading-straight-into-a-gap-fill-202604161400
