A Phone Call From Trump Just Earned Nvidia Stock a Potential 30% Boost
Nvidia stock is up 32% after a bull flag breakout, boosted by Trump's call for Jensen Huang to join his China delegation.Summary
Nvidia's stock (NVDA) has seen a significant rally, climbing 32% since a May 6 breakout, reaching $227 by May 13. This surge is attributed to fundamental catalysts, notably Nvidia CEO Jensen Huang joining President Trump's Beijing delegation. Trump personally invited Huang, potentially reopening $50 billion in AI chip opportunities in China, a market previously impacted by US restrictions. Several Wall Street firms have raised their price targets for Nvidia, with Bank of America setting theirs at $320 and Wells Fargo at $315, citing the vast potential of AI data centers. Despite the positive technical breakout and bullish analyst sentiment, the Chaikin Money Flow (CMF) indicator shows a bearish divergence, suggesting a potential slowdown or profit-taking. The put-call ratio also indicates some hedging ahead of the May 20 earnings report, though overall positioning remains call-skewed. The stock price is currently at a critical level around $227; a close above this point could lead to further gains towards $267 and beyond, while a close below $207 might signal a deeper consolidation.
(Source：BeInCrypto)