Nvidia's shares hit a record high of $138.07 on October 14, 2024, driven by strong AI chip demand and positive analyst reports. In addition, Nvidia's top customers, such as Microsoft, Meta, Google and Amazon, have been unveiling technologies and products that require hefty investment in the chip maker's products.

With demand for Nvidia’s Hopper and Blackwell platforms remaining strong, many analysts have maintained their "buy" ratings, raising price targets on Nvidia with expectations for more success. 

Dan Chang, Investment Specialist and Trading Representative at PhillipCapital, gives his take about this explosion to the upside, and includes a technical analysis as well as his suggested trading plan.