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AI chip demand boosts Nvidia: Will it spark a chip stock rally?
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$NVIDIA (NVDA.US)$ From the chart, it looks like NVIDIA (NVDA) might be forming a potential double bottom pattern around the $100-$105 range, which is typically seen as a bullish reversal signal. The price seems to be rebounding from this level, indicating buying interest. If the stock continues to rise and breaks above the $125-$130 resistance level, it could confirm the double bottom and suggest a potential continuation of the uptrend.

However, the price also shows signs of previous resistance around $135-$140, so monitoring these levels is crucial. If NVDA fails to break above resistance, it could signal a continuation of the sideways or bearish trend. Keep an eye on volume during these movements, as higher volume on upward moves would confirm the bullish sentiment.
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