Why Nvidia stock is now set for ‘massive end of year rally'

Core Viewpoint - Nvidia's share price is currently under pressure, having fallen below $140, but technical indicators suggest a potential breakout as the year ends, with a year-to-date rally of 178% driven by its AI ventures [1][3][7]. Price Movement and Technical Analysis - Nvidia's stock closed at $134.25, down over 2% for the day and approximately 3% for the week [1]. - A trading expert noted that Nvidia is positioned for a significant end-of-year surge after a period of consolidation, indicating strong underlying support and upward momentum [3]. - The stock has stabilized within a defined price range for over two months, building momentum for a potential breakout, with a critical demand zone attracting over $20 million in call options [3]. - A bullish reversal pattern, specifically an inverse head-and-shoulders, has been identified, suggesting a potential price increase towards $150 if a breakout occurs [5]. Fundamental Analysis and Future Outlook - Nvidia remains a dominant player in the AI sector, with the upcoming Blackwell product line expected to drive further growth [7]. - Despite recent challenges, including an antitrust probe by Chinese authorities, some analysts remain optimistic about Nvidia's future, projecting a stock price of $160-$170 in early 2025 [7]. - Nvidia reported Q3 revenue of $35.1 billion, reflecting a 17% quarter-over-quarter increase and a 94% year-over-year jump, supporting a positive outlook [7]. - Saxo Bank predicts Nvidia could reach a valuation of $7 trillion by 2025, positioning it as a key player in the AI boom [7].