Nvidia stock forecast: Can NVDA reach new highs above $228 support?

Nvidia stock forecast: Can NVDA reach new highs above $228 support?
NVDA remains supported despite yield risks

​Nvidia remains one of the strongest names in the technology sector, but the next leg higher will require fresh confirmation. The stock is approaching a level where the technical setup could shift quickly.

QumulusAI has signed new three-year deals worth $240.9 million for infrastructure based on Nvidia Blackwell B300. These agreements involve over 2,000 GPUs, while combined obligations of the two clients to QumulusAI have already exceeded $344 million. Such arrangements confirm once again the tendency of customers to make reservations of AI capacity and enter into multi-year agreements.

According to Financial Times, there have been negotiations taking place between Nvidia and insurance companies such as Howden Re regarding insurance models for financing loans backed by their GPUs in order to minimize the risk on the lenders and make the loans available to smaller AI cloud operators. If the model is successful, it can lead to expansion of customers for Nvidia.

Holding $228 keeps record highs in focus

The scenario outlined in the previous analysis has started to play out. NVDA tested $233.21 but has yet to reach the projected $236.54 target.

For today’s session, $228 is once again the key level, although it now acts as support rather than resistance. As long as the stock holds above this threshold, the technical structure remains favorable for buyers.

If $228 continues to hold, the base-case scenario remains unchanged: further upside followed by another test of the all-time high.

A break below the short-term ascending trendline, currently near $226.50, would invalidate this setup. If NVDA establishes itself below that line, the risk of a deeper pullback would rise sharply, with support around $223.50 becoming the next level to watch.

Bond yields could shape Nvidia’s short-term momentum

Nvidia remains particularly sensitive to moves in bond yields, as the stock’s elevated valuation makes it more responsive to changes in the cost of capital. Even in the absence of fresh company-specific catalysts, sharp moves in the Treasury market can quickly alter investor appetite for technology stocks.

Against this backdrop, the next few sessions could remain volatile. For NVDA, the key external factor is not simply the release of macroeconomic data, but how those figures reshape expectations for Federal Reserve policy and the path of long-term interest rates.

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