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NVDA’s Stock Split Leads to Bullish Breakout

Written By: ChartChamp

May 29, 2024

NVDA announced a 10-to-1 stock split that will occur after market close on June 7. This stock split has helped NVDA rally above a strong yellow resistance line. NVDA is forming the biggest bubble in stock market history. I think there is still room for the bubble to grow, especially with NVDA launching their new Blackwell chips in the second half of 2024. Tech companies will have to reorder these newer and better chips, which will help to drive NVDA revenue growth. There will be a day when this bubble pops I just think there is more time for now. NVDA’s bullish breakout could help the rest of the market rally, especially with SPY, QQQ, and IWM trading near key resistance levels.

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