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Benzinga
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Stock Of The Day: NVIDIA Tests New Resistance — Could Another Breakout Be Brewing?

1. NVIDIA is experiencing upward trends after recent consolidation. 2. Stock may break resistance at $141.50, indicating bullish potential. 3. Breakouts reflect high buyer demand surpassing seller supply. 4. Resistance levels can lead to price drops if stock reverses. 5. Traders believe NVIDIA is poised for further upward movement.

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FAQ

Why Bullish?

The anticipated breakout at $141.50 suggests strong demand, which historically leads to price increases.

How important is it?

Trader interest in breakouts typically drives stock volatility, impacting NVDA's market sentiment.

Why Short Term?

Breakouts often lead to immediate price increases, with historical examples supporting rapid gains post-resistance.

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