NVDA has heavy near-term resistance (downtrend line, pivots, ATHs) and needs to overcome these levels before making new highs.

Next up, guys, is the biggest stock of them all, Nvidia. Now, folks, you should pay attention when Nvidia's stock approaches its previous all-time highs. And most importantly, we should pay attention to Nvidia when it recently breaks through a downtrend line.

I remind you again, the breakout, the retest, and the bounce, which pushes the price above the previous pivotal peak. So, we found some sellers, and then over the past three days, Nvidia's stock gained more than 6%, pushing the price back into this upper range .

You can see what's holding back the price here as well. We have an upward trend line that limits the price in the near term, and is putting pressure on it in this attempt. This tells me that Nvidia has near-term resistance here, and that makes sense.

There is also a higher pivot point in roughly the same location at $228 or $232 on the chart. Beyond that, we have the 50% zone, and the parallel line, but before that we have all-time highs .

So, you can see that the resistance levels are piling up on top of each other for Nvidia. This does not mean that it cannot surpass them, but it still has a lot of work to do before talking about new record levels .

We were also talking about trying to get back to the top 50% of this long-term parallel channel that you see returning to the April 2025 lows.