Nvidia rose more than 7% over 48 hours, putting the AI chip leader back near the top of its short-term trading channel after a steep valuation reset earlier this month.
Market analyst Ali Martinez placed the next upside area near $209 to $210, with NVDA pushing higher inside a rising channel after buyers defended the recent pullback. A separate Martinez chart flagged a TD Sequential buy signal, adding a technical reversal setup to the rebound.
The move follows a fast repricing in Nvidia shares after the stock slid from its May peak. NVDA had recently fallen about 16% from its high, leaving the company near 18 times forward earnings despite record AI data-center revenue and gross margins that remain among the strongest in large-cap technology.
Semiconductor Flows Strengthen The Trade
The rebound also comes as investors rotate back into chip exposure through ETFs. U.S. long semiconductor funds pulled in about $7.1 billion in one day, led by a record $5.43 billion allocation into BlackRock’s iShares Semiconductor ETF.
That flow matters for Nvidia because the stock remains the sector’s main AI bellwether. Broad semiconductor buying gives investors exposure across chip designers, equipment makers and memory names, but Nvidia still carries the highest visibility in the AI infrastructure trade.
SOXL, the 3x leveraged long semiconductor ETF, also drew $1.28 billion during the same session, showing that traders were not only adding passive sector exposure. They were adding higher-beta semiconductor risk as the chip trade tried to recover from the latest drawdown.
Channel Resistance Sits Near $210
The technical setup now centers on whether Nvidia can extend the rebound toward the $209 to $210 channel area. A clean push into that band would put the stock back near short-term resistance after buyers stepped into the pullback.
The TD Sequential signal gives traders a reversal marker, but it does not confirm a sustained breakout on its own. The signal is strongest when it lines up with higher volume, broader sector strength and follow-through above nearby resistance.
Nvidia recently traded near $202.78, with a market value around $4.95 trillion. A move to $209 would put the stock about 3% above that level, while $210 would bring the rebound closer to the upper end of Martinez’s channel target.
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