Analysts: AI-Related ETFs May See Breakout After NVIDIA Hits New Highs

Crypto analyst Ali posted on the X platform stating that Nvidia (NVDA) shares reached an all-time high of $237.88 on October 2, rising nearly 14% since September 14. The stock is currently testing the upper channel resistance and is poised to potentially climb toward a $260 target. With the AI sector regaining market focus, AI-related ETFs may see breakout rallies. The Direxion Daily Semiconductor Bull 3X ETF (SOXL) aims to generate triple the daily performance of the semiconductor index and has recently displayed breakout tendencies. If the support around $150 holds, a follow-through target of $210 comes into view. The Roundhill Memory ETF (DRAM), which primarily invests in global memory chip manufacturers, is currently consolidating in an ascending triangle pattern. A decisive break above $64 could open further upside room toward an $80 target. Ali believes the subsequent performance of these two ETFs will likely confirm the ongoing extension of the AI cycle.