AsNvidia Corporation(NASDAQ:NVDA) shares closed above the $140 level for the first time in 20 days on Tuesday, traders expect the stock to make new highs if it breaches $145 per share.
What Happened:Traders are bullish on Nvidia as its share price exceeded the 50-day simple moving average and moves above $140 apiece for the first time since Dec. 6, on Tuesday's shortened trading session. According to a quant trader,Peter DiCarlo, the share price could reach $170 apiece in the first quarter if the stock moves beyond $145 per share.
However, he adds "If we reject and this is a trap, price...
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