Nvidia stock rises above $142 as chip rally builds on China export hopes
Beyond geopolitics, demand for Nvidia’s GPUs remains strong across AI, cloud computing, and gaming sectors
As of June 10, Nvidia stock is trading at $142.63, up 0.6% in the past 24 hours.
This upward move is part of a broader rally that has seen the stock gain more than 15% over the past month, supported by optimistic geopolitical signals regarding U.S.-China trade relations.
Highlights
- Nvidia is trading at $142.63, buoyed by a breakout above key resistance and strong technical indicators.
- Hopes of eased U.S.-China chip export restrictions and surging AI demand are driving investor optimism.
- The stock is poised to test the $150 resistance level in the near term.
Nvidia's chart reveals a classic bullish continuation pattern. The stock has recently cleared a critical resistance zone around $143, which had held firm since late February. This breakout is particularly significant, as it aligns with increasing volume and coincides with broad sectoral gains among chipmakers. From a technical standpoint, Nvidia is firmly above both its 50-day and 200-day moving averages, reinforcing the prevailing uptrend.
The 50-day moving average currently sits at $118.40, and the 200-day moving average is at $127.22. These two averages serve as dynamic support levels. The fact that Nvidia's current price is more than 20% above its 50-day MA signals strong investor sentiment and persistent buying pressure. As long as the stock remains above $127, the broader bullish structure remains intact.
NVDA stock price dynamics (April 2025 - June 2025). Source: TradingView
Immediate support is found near $138–139, with stronger structural support at $121, where the price consolidated during March. If Nvidia were to retreat, this level would be a critical zone to watch. Resistance lies at $150, a level last touched in December 2024. Should momentum continue, Nvidia could challenge this level in the coming sessions.
Market context: easing China tensions and AI tailwinds
Nvidia's recent gains are also driven by macroeconomic and geopolitical news. According to a June 10 Investopedia report, U.S. officials are considering easing export restrictions to China on advanced semiconductors. Nvidia, whose H100 and A100 chips have been restricted from shipment to Chinese customers due to national security concerns, stands to benefit significantly if these limitations are rolled back. This development is crucial, as Nvidia had previously warned that up to 25% of its data center revenue could be at risk if China-related restrictions persist. Investors are now pricing in a more favorable outcome, which explains part of the stock’s recent surge.
Beyond geopolitics, demand for Nvidia’s GPUs remains strong across AI, cloud computing, and gaming sectors. The company's last earnings report showed revenue of $26 billion, a 262% increase year-over-year, driven primarily by sales to hyperscale cloud providers. Analyst forecasts for the current quarter stand at $45.59 billion in revenue, with projections rising to $51.78 billion for the October quarter. This suggests continued growth and scalability in Nvidia’s core business lines.
Additionally, investor appetite remains high for AI exposure. Nvidia remains the dominant chip supplier to companies like Microsoft, Meta, and Google as they build out massive AI infrastructure. The company’s technological moat in AI hardware further solidifies its status as a market leader.
Testing $150 in near term
With strong fundamentals and technicals in place, Nvidia’s stock is expected to trend higher over the coming days. The next major test lies at the $150 resistance level. If this is breached, the stock could rally toward $155 in the short term. However, some consolidation between $143 and $150 is possible, particularly if broader market conditions turn volatile or RSI readings spike further.
Downside risk appears limited in the near term, with $138 and $127 acting as strong support levels. Any corrective pullback toward these zones could offer a buying opportunity. Traders should closely monitor resistance at $150 and remain alert to volume and RSI shifts for signs of either breakout continuation or short-term reversal.
Nvidia posted strong quarterly results with $44.06 billion in revenue, beating estimates and highlighting robust demand for its data center products. A major chip deal with Saudi AI firm Humain further cements its role in global AI infrastructure expansion.
