Last week the CoreWeave shares supported by Nvidia rose by more than 50%.

The CoreWeave (CRWV) parts rose last week after the AI ​​Cloud provider had achieved a quarterly sales and announced that Nvidia (NVDA) had a higher participation in the company than the investors expected.

CoreWeave, which went to the stock exchange at the end of March, reported on Wednesday that the income rose by over 400% in the first quarter compared to the previous year, and on Thursday by a regulatory registration that the big partner NVIDIA lasts a 7% participation in the company of around 5%.

The company also said last week that a four-year contract with Chatgpt Maker Openai worth up to $ 4 billion agreed, which was added to a commitment of almost $ 12 billion in March.

Compared to their market passage of $ 40, the CoreWeave shares have more than doubled, which was upset by the news of the past week and the investors' appetite for emerging generative AI games that meet the widespread demand for technology. The share alone increased 56% last week and closed the session on Friday at $ 80.30.

In the following we set off the technical data in the hourly table of CoreWeave and indicate the most important price levels that investors will likely pay attention to.

Edit the cup and breakout

Between the end of April and early May, CoreWeave shares closed a cup and the pattern of trade on the table before they broke out last week over the top trend line of the formation.

It is important that the higher move has occurred in the above -average trading volume, which indicates the conviction of larger market participants behind the purchase. In addition, the relative strength index confirms the Bullish Price Dynamics with an increased reading, although the indicator fell under the overwear threshold on Friday, which made minor profits before the weekend.

If we apply a technical analysis to determine a potential upward price destination to see whether the CoreWeave shares continue to be gathered and identify several important support levels that are worth monitoring during the retreat.

Chart-based upward price destination

Investors can project a potential upward price destination using the measuring principle, a technology that analyzes earlier price campaign in order to predict future movements.

When using the tool to the CoreWeave diagram, we calculate the percentage change of the cup and the “cup” of the handle and add it to the top trendline value of the pattern. For example, we apply an increase of 70% to $ 57, which predicts a target of $ 96.90, which uses about 20% above the closing course on Friday on Friday.

Important support levels that are worth monitoring

The first lower level of the table for monitoring is 73 US dollars. Investors who are looking for options for taking setbacks can give buying limits at this location near the high on Thursday.

After all, a deeper withdrawal in CoreWeave shares could reduce the price for the repetition of 57 US dollars by around 57 US dollars. This area would probably arouse the purchase interest near the cup and the top trend of the grip, which can be dealt with from a region of previous resistance to a location of future support.

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Until the date on which this article was written, the author has none of the above securities.