NVIDIA stocks set to retest January high at $193

Last week, NVIDIA shares tested the waters below $183, yet the dip was fleeting and the price swiftly snapped back into its established trading range. Aside from this brief bearish probe, the stock has been moving in a flat within $183–$193 for over a month. Since the attempted breakout failed to gain traction, the next logical move for the market is a bullish assault on the $193 ceiling. A decisive close above this threshold would clear a path toward 2025 highs, likely prompting a significant surge in buying interest.

A technical backdrop supports this constructive view. The Relative Strength Index (RSI) confirms such a range-bound stability, oscillating within neutral territory. Meanwhile, the Stochastic Indicator points to building short-term upside momentum. The price has also reclaimed ground above the 50-day moving average, giving one more layer of support. Most tellingly, the daily chart shows Bollinger Bands tightening into a pronounced squeeze—a classic precursor to a volatility spike. The upper band aligns precisely with the January peak at $193, marking it as the perfect initial zone for taking profits on long positions.

Fundamentally, a fresh catalyst for NVIDIA shares may be emerging from China. According to Reuters, following a visit by CEO Jensen Huang, Asian regulators have greenlit the import of the first batch of H200 chips for three major domestic firms. This effectively ends a customs standoff that persisted before January despite earlier US export clearances.

The reported rationale is to strengthen China's AI capabilities amid intensifying competition with American tech giants like OpenAI. Sources claim a potential compromise includes quotas for domestic hardware. Regardless of the finer details, this development unlocks a substantial revenue channel for NVIDIA. Prior to the initial ban, Chinese firms had placed orders for roughly 2 million H200 chips—a figure that surpasses the company's total inventory. 

Considering all technical and fundamental factors, the proposed trade is structured as follows:

Buy NVIDIA stocks at the current price. Place Take profit at $193. Set Stop loss at $183.