Nvidia Technicals: Buyers are making a play and testing the all-time highs.

AI summary

<p class="PDq2pG_selectionAnchorContainer">The price of Nvidia is stretching toward its all-time high despite a down day for the broader US stock indices. Shares are currently up $2.70, or 1.12%, at $231.00. The intraday high reached $234.76, putting the stock less than $2 from its record high of $236.54.</p><p class="PDq2pG_selectionAnchorContainer"></p><p>Technically, the combination of the nearby all-time high and broader market weakness has helped put a temporary lid on the rally. However, the intraday correction has also found support near a swing area around $228.40 in spite of the broader stock market weakness.  </p><p>That level at $228.40 is important for the short-term bias. As long as the price remains above the level, buyers remain in firm control and can continue to target the all-time high at $236.54. A break above that record level would move Nvidia into uncharted territory, where traders would look for momentum and follow-through to confirm that the breakout is sustainable.</p><p>Conversely, a break below $228.40 with momentum would weaken the bullish bias - in the short term at least. It would also increase the possibility of a deeper rotation toward the rising 100-hour moving average near $220 on the failure to reach and breach the all-time high. That moving average represents a more significant test for buyers. Staying above it would preserve the broader bullish structure, while a break below it would give sellers greater control.</p><p>The most successful