NVIDIA stocks to keep rising within steady ascending channel

NVIDIA (NVDA) shares are trading upward. On Tuesday (August 12), the company’s stock closed at $182.56—close to the middle of the ascending channel.

The On-Balance Volume (OBV) indicator confirms a sustained buying interest. The OBV line maintains the uptrend, hitting 490,835, which indicates that the purchase volumes exceed sales. This carries particular significance when prices hover mid-channel, often preceding upside breakouts. Besides, the OBV showed only modest declines during early August corrections, excluding the possibility of strong downward momentum in the absence of fundamental factors.

The RSI (14) is currently standing at the 65 level following its correction in early August, The market situation is now rather balanced: slightly bullish but with no overbought signals. This technical setup—combining a steady ascending channel with a moderate RSI—favors continued growth without major pullbacks.

A potential interest rate cut by the Federal Reserve (Fed) at its September meeting may trigger a decline in US Treasury yields, making the corporate stocks more attractive for investors. These conditions traditionally boost capital flows into risky assets, such as technology stocks. This could also strengthen demand for NVDA shares.

In addition, the company's regained access to the Chinese market provides new opportunities for improving its financial performance, having a positive impact on the firm's revenue and profit growth potential in particular.

These synchronized fundamental and technical indicators support NVDA’s ongoing uptrend, creating favorable conditions for further share appreciation.

Consider the following trading plan:

Buy NVDA with a target of $190.60. Take profit: 190.60. Stop loss: $178.40.

The forecast remains relevant from August 13 to August 20.