H200 chip approval catapult NVDA toward all-time highsNVIDIA CorporationBATS:NVDAinkicho_exnessNVDA | 4H Technical Analysis — May 15, 2026 The US government has approved H200 chip sales to 10 major Chinese firms, including Tencent, Alibaba, and ByteDance, with Jensen Huang signaling that the Chinese market could represent a $50B opportunity for Nvidia. Chinese media also reported approval of new GPU imports, including the RTX Pro 6000, sending the stock up more than 4% on the session and reigniting the AI hardware demand narrative. NVDA has been in a broad consolidation range between 170 and 212.50 since the November peak, grinding through a prolonged sideways structure before the early April flush brought the price down to the 164–170 zone. The subsequent recovery has been sharp, a 72.35-point bounce (+44.05%) from the April low, reclaiming 195, 212.50, and now pushing toward the 230–240 area with price currently trading around 235. EMA21 (216.77) and EMA78 (201.06) are in a fresh bullish cross with both EMAs trending higher, providing dynamic support beneath the current price. The 212.50 level, which acted as the ceiling of the multi-month consolidation range, has now been reclaimed and is the key support reference on any pullback. Price is currently breaking above the consolidation range highs and pushing into fresh multi-month territory. Fibonacci extension levels at 247.12 (1.272) and 261.22 (1.618) are plotted as the next structural upside targets. Key levels to watch: Resistance: 240 / 247.12 (1.272 fib) / 261.22 (1.618 fib) Support: 212.50 → 201.06 (EMA78) → 195 → 170 (April low) Bear case: Rejection at the 230 zone and a rollover back below 212.50 would suggest the China catalyst is being faded. A close below EMA78 at 201 would raise the risk of a full retracement toward the 195–170 range. Bull case: A hold above 212.50 and continued follow-through above 240 keeps the path open toward the 247.12 fib extension. Confirmation of the China market opportunity materializing would provide the fundamental backing for a push toward 261 and potential all-time high territory. Bias is bullish, the China re-opening catalyst, combined with a clean structural breakout above multi-month resistance, shifts the risk/reward firmly to the upside.