NVIDIA's stock price reached a new historical high on October 3, 2026, closing at $237.88, and briefly touched $237.87 during the session, pushing the company's market value to approximately $5.7 trillion.
However, well-known chart analyst Ali Martinez stated that this stock is currently approaching an important resistance zone, and it is likely to experience a pullback first before attempting a more substantial breakout.
NVIDIA Sets a New Historical High; Morgan Stanley Lists It as a Top Pick
Since September 14th, NVIDIA's stock has risen by nearly 14%, from $208.93 to $237.88. This increase is mainly driven by strong demand for AI and Morgan Stanley's bullish outlook.
Morgan Stanley has listed NVIDIA as the “top pick” in the global semiconductor sector, maintaining a “overweight” rating and keeping its target price at $300. The firm stated that the demand for AI infrastructure remains strong, while the limited availability of data center space, power, and funds is presenting new challenges to the industry.
This may continue to support the demand of large technology companies for NVIDIA chips when expanding the AI system.
NVIDIA also expanded its stock repurchase program by $150 billion, bringing the remaining authorized amount as of fiscal year 2028 to $235 billion.
Ali Martinez warns that NVDA could be a fake breakout or a real breakout.
At the same time, Ali Martinez pointed out that this round of gains has pushed NVDA to the top of its price range over the past six months, and it is currently facing resistance. Therefore, he is observing whether this trend will evolve into a false breakout or a real breakout.
He also mentioned a similar pattern in late April: at that time, NVIDIA fell by about 10% after hitting the resistance level of around $216.83, dropping to $194.74.
Subsequently, the stock strengthened again, breaking through the channel and rising to a new high of $236.54.
If a similar pattern reappears, Martinez expects that NVDA may first fall back to around $220 before testing the upper edge of the channel again. If it successfully breaks through, the stock price could further rise to $260.
Currently, he is focusing on the range of $225 to $220, believing that this could be a potential entry zone, rather than chasing higher prices when approaching resistance levels.
CoinPedia Explanation
CoinPedia has been providing timely and accurate updates on cryptocurrencies and blockchain since 2017. The website claims that all content is created by a team of analysts and journalists and follows strict editorial guidelines based on E-E-A-T (experience, professionalism, authority, credibility). Each article undergoes fact-checking against reliable sources to ensure accuracy, transparency, and reliability. Their review policy guarantees a fair assessment when recommending exchanges, platforms, or tools. The website states that they strive to provide timely updates on cryptocurrency and blockchain, covering a range of content from startups to industry giants.
Investment Disclaimer
All views and opinions expressed in this text represent solely the author's perspective on the current market conditions. Before making any investment decisions, please conduct your own research. Neither the author nor the publisher assumes any responsibility for your financial choices.
Sponsorship and Advertising
Sponsored content and affiliate links may appear on the website. Advertisements will be clearly labeled, and the editorial content is completely independent from advertising partners.
