NVIDIA (NVDA) is no stranger to the spotlight, having consistently been a dominant player in the tech space, particularly with its breakthroughs in AI and GPU technology. On May 22, 2024, NVDA demonstrated significant strength, rallying on the back of strong earnings and heightened investor enthusiasm. A recent surge has seen NVDA approach the critical $135 price mark, sparking fresh speculation about whether the stock could be setting itself up for another leg upward.

Historical Performance and the Blackwell Sales Report

One of the key catalysts behind NVDA’s previous price surge in 2024 was the company’s Blackwell architecture. As the core of its latest GPUs, Blackwell has continued to outperform expectations, with revenues from this product line playing a pivotal role in pushing NVDA to fresh highs. The positive reception of the Blackwell GPUs among AI companies and tech firms has greatly fueled NVDA’s revenue, leading to impressive quarterly results. Investors vividly recall the rally after the Blackwell sales report, and many are now questioning whether NVDA could replicate this pattern.

With revenue forecasts aligning with this optimism, NVDA’s recent movement beyond the $135 mark appears to signal renewed confidence in the company’s growth trajectory. If the stock can sustain its momentum, it’s plausible we might see a replay of the sharp climb experienced earlier this year.

Could History Repeat Itself?

The $135 level serves as a psychological and technical resistance point, but breaking it could open the door to further gains. Analysts watching this level believe that a successful breakthrough could propel NVDA towards the $145-$150 range. The market tends to gravitate toward key price zones, and should investor sentiment remain favorable, closing above $145 could further validate the bullish outlook.

From a technical standpoint, the potential for another surge is supported by solid fundamentals. NVDA’s AI and data center segments continue to grow at an accelerated pace, contributing to its top-line performance. The company’s dominant position in the AI revolution ensures that demand for its GPUs, particularly those powered by the Blackwell architecture, remains high.

Looking Ahead: $145-$150 Target Range

For NVDA to reach the $145-$150 target range, continued positive momentum from sales reports, market optimism, and potential guidance upgrades will be crucial. Investors will closely watch NVDA’s earnings and any updates regarding the AI landscape. Furthermore, any announcement of new partnerships, product launches, or favorable market conditions could provide the necessary fuel to drive NVDA to higher levels.

While history never repeats itself perfectly, the combination of strong product demand, growing revenue streams, and positive market sentiment makes NVDA a compelling stock to watch in the coming weeks. Investors targeting the $145-$150 range are likely eyeing the stock’s ability to close above $135 and sustain this breakout over time.

If NVDA closes the gap and maintains momentum, we could very well witness a repeat of the early 2024 pattern, further strengthening the case for long-term upside. As always, market conditions and external factors will play a role, but with NVIDIA’s strong fundamentals, the path to $145-$150 seems more than plausible. Note: If it survived $140 curse then we can try $145 to close it. If not, exit and reenter when it's right.