NVIDIA CORPORATION (NVDA) shares jumped higher in their latest intraday trading, driven by the stock’s rebound from its 50-day simple moving average, which provided strong dynamic support and helped generate fresh bullish momentum. This move also coincided with the firm holding above the key support level at 182.40 dollars, following a previous decline during which the stock attempted to establish a higher low that could serve as a base for a new recovery wave.

This comes within the context of the dominant short-term bullish trend, with price action trading along a supporting minor upward sloping line. We also note the emergence of a positive crossover on the Relative Strength Indicators after reaching extremely oversold levels, reinforcing the prospects for a near-term recovery.

Therefore, we expect NVDA’s price to rise in the upcoming sessions, as long as support at 182.40 dollars holds, targeting the resistance level at 211.35 dollars.

Today's price forecast: Bullish

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