NVIDIA Corporation NVDA rose over 1% on Friday after reports suggested it increased demand for the company’s chips.

The move higher resulted in the Santa Clara, Calif.-based company attempting to break out again of a long-term ascending trendline that had been carrying the stock higher since Jan. 19.

Nvidia broke below the ascending trendline on Tuesday and hasn’t managed to retake the area every day since. Bullish traders are hoping the stock will close Friday’s session above the range, which could indicate that Nvidia will continue its uptrend.

If Nvidia can regain the trendline, the next major resistance zone is $280 where the stock exhibited a fivefold top pattern. If Nvidia can break through this area, a steeper uptrend could be in the offing.

Bearish traders would prefer Nvidia to reject the upper trendline or for the stock to reject $280 and print a bearish reversal candle (i.e. a doji or shooting star candle) at the level.

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