With Nvidia (NASDAQ: NVDA) stock having resumed its bullish momentum, an analyst has pointed out that the equity’s technical structure suggests continued strength, targeting the $270 mark.
Notably, NVDA stock closed Tuesday’s session at $220 after hitting an intraday record high of $223. Year-to-date, the semiconductor stock has rallied nearly 17%.
Nvidia stock road to $270 record high
Regarding the outlook, insights shared by market analyst Ali Martinez on May 12 indicate that Nvidia has resumed its upward trajectory after briefly cooling off following its strong multi-week advance.
The setup highlights a breakout structure that places the stock on course toward two major upside targets at $239 and $271.
According to Martinez’s analysis, Nvidia recently reclaimed the key $210.95 resistance level, an area that had previously capped upside momentum.
Shares have since climbed to around $220, suggesting buyers are attempting to establish a higher trading range above the breakout zone.
From a technical perspective, the stock appears to be building on a sustained recovery that began after Nvidia rebounded from support near $164 earlier this year.
Since then, the equity has consistently posted higher lows, reflecting strengthening bullish sentiment despite periods of short-term volatility.
The analysis also identified $187.49 as an important intermediate support level. Nvidia’s ability to remain above that area helped fuel the latest leg higher, with momentum accelerating sharply through April and into May.
If the current trend remains intact, the next major resistance sits near $239. A successful move above that threshold could open the door for a broader rally toward $271, which would mark a fresh record high for the chipmaker.
However, volatility could remain elevated near resistance zones, especially after the technology giant’s rapid recent gains. A failure to hold above the $210 breakout area may trigger temporary consolidation before another upward attempt.
Nvidia fundamentals
Overall, the direction of Nvidia shares in the coming days will likely be heavily influenced by its Q1 FY2027 earnings report and, more importantly, the forward guidance provided by management.
Set for release after the market close on May 20, analysts expect Nvidia to report revenue of roughly $78 billion to $80 billion and adjusted EPS of around $1.74, reflecting continued explosive growth in its data center business.
Investors will be focused on progress with the Blackwell platform ramp, gross margin trends, and Jensen Huang’s outlook on AI demand.
