Nvidia Surges as AI-Related ETFs Break Out
Nvidia shares reached an all-time high of $237.88 on October 2, marking a nearly 14% increase since September 14.
Crypto analyst Ali is tracking two exchange-traded funds (ETFs) for signs of renewed interest in artificial intelligence: the Direxion Daily Semiconductor Bull 3X ETF (SOXL) and the Roundhill Memory ETF (DRAM).
The SOXL fund, which aims to deliver three times the daily performance of a semiconductor index, appears to be breaking above a channel pattern on a four-hour chart.
If $150 holds as support, Ali suggests the move could point toward $210.
The DRAM ETF is forming an ascending triangle, with a rising lower boundary beneath resistance. An hourly close above $64 could confirm a breakout, potentially leading to $80 and about 25% upside.