NVDA breakout above 235 and RSI > 60 signals new bullish phase; more upside likely.

Now, Nvidia has appeared in my notifications. I set an alert for when Nvidia breaks the 235 level, because that was the price peak in May. We retested that peak in early September, and the question was: what does breaking this level tell us about a new bullish phase?

Indeed, earlier this week, specifically on Friday, I received an alert that Nvidia had broken the 235 level. Now, the price continued to rise on Monday and Tuesday.

I think the most important thing about the Nvidia chart, by the way, is this part here, which is the Relative Strength Index (RSI). Look how the index was neutral, confined to a range between 40 and 60.

This is similar to the relative strength index of the S&P 500 itself, by the way. If you look at that graph, you will see the same thing. But in just the last two days, the index has pushed above the 60 level, upwards, to resolve that sideways momentum into upward momentum.

The Relative Strength Index (RSI) has pushed up to almost the 70 level. So, like the first two names, they are all approaching the overbought zone, but I would say the fact that the index has broken above the 60 level is really encouraging here.

Now, why is that important? Well, look back here to early 2026, here are February, March and April, and finally here, we break to reach a new record high in 3 months. Finally, the Relative Strength Index breaks above the 60 level.

Look how the index has not exceeded the 60 level during all these peaks, which confirms that we are in a sideways phase. Look how the price is now breaking the resistance level, pushing the Relative Strength Index above 60.

This indicates a new consolidation phase and suggests more upside is likely to come. We are kind of in an "you are here" moment with Nvidia. Once again, we break through to reach a new record high within 3 months.

Once again, the Relative Strength Index finally breaks the 60 level after failing to do so previously. Relative performance also accelerates as Nvidia creates this new assembly phase. So, Nvidia is the third chart to watch.