Shares in artificial intelligence (AI) chipmaker Nvidia (NVDA) will probably be within the highlight forward of a presentation by CEO Jensen Huang scheduled for subsequent Monday on the Shopper Electronics Present in Las Vegas.

Buyers will probably be anticipating updates from Huang on gross sales projections for the corporate’s Blackwell chips and particulars about Rubin, Blackwell’s successor, which Nvidia plans to launch in 2026. A number of main Wall Avenue corporations have named the AI behemoth as their 2025 “top pick,” declaring that robust demand for its Blackwell platform positions the corporate for one more yr of explosive progress.

Nvidia shares closed out 2024 with a acquire of 170% amid surging demand for its silicon as massive tech clients—together with Microsoft (MSFT), Meta (META) and Alphabet’s (GOOGL) Google—beefed up their AI datacenter and cloud computing infrastructure. Final yr’s massive acquire got here on the heels of a 240% enhance in 2023.

Under, we take a more in-depth take a look at Nvidia’s chart and use technical analysis to determine key worth ranges to be careful for in early January.

Descending Channel Takes Form

After setting their file excessive in late November, Nvidia shares have traded inside a descending channel, with the value tagging the sample’s higher and decrease trendlines on a number of events since that point.

Extra just lately, the inventory bumped into promoting strain close to the channel’s prime trendline and 50-day moving average (MA), although the transfer occurred on mild end-of-year share turnover.

The relative strength index (RSI) indicators barely bearish worth momentum within the inventory to kick off 2025 with the indicator falling under 50.

Let’s take a look at key support and resistance ranges on Nvidia’s chart that traders could also be eyeing as the primary quarter will get underway.

Key Assist Ranges to Watch

The primary stage to look at sits round $130, a location on the chart the place the shares could encounter help close to a trendline that connects the distinguished August swing high with the December swing low.

A decisive shut under this essential technical stage might see the shares break down beneath the descending channel’s decrease trendline and revisit decrease help round $115. This location, at present slightly below the rising 200-day MA, would possible entice shopping for curiosity close to a horizontal line that hyperlinks a spread of comparable worth factors between Could and October final yr.

Necessary Resistance Ranges to Monitor

Upon a transfer greater from present ranges, traders ought to initially monitor the $140 space. The shares could run into resistance on this area close to the descending channel’s higher trendline, which additionally intently aligns with the inventory’s June 2024 peak.

Shopping for above this stage might see the shares rally as much as round $150. Buyers who’ve purchased the current retracement could search to lock in profits on this space close to a sequence of price action located slightly below the inventory’s file excessive.

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As of the date this text was written, the writer doesn’t personal any of the above securities.