Source: TradingView.com <\/p>\n
Nebius shares jumped to a record high Tuesday morning after the Amsterdam-based AI infrastructure provider said it has inked an agreement with Microsoft worth up to $19.4 billion over five years.<\/p>\n<\/li>\n
The price broke out from a pennant, a chart pattern that signals a continuation of the stock’s uptrend.<\/p>\n<\/li>\n
The measured move technique forecasts a bullish price target of $176.40. Investors should watch major support levels on the Nebius chart around $87, $76 and $54.<\/p>\n<\/li>\n<\/ul>\n
Nebius Group shares jumped Tuesday after the Amsterdam-based AI infrastructure provider said it has inked an agreement with Microsoft worth up to $19.4 billion over five years.<\/p>\n
Under the deal<\/a>, Nebius (NBIS) will deliver computing resources to Microsoft (MSFT) later this year using a data center in New Jersey, helping the Azure owner address a demand shortage for cloud infrastructure<\/a> that can process increasing AI workloads. CEO Arkady Volozh said it\u2019s the first time Nebius had signed a long-term contract with a large tech company, and added that there are likely more to come.<\/p>\n Nebius stock was up 37% at $88 in recent trading after hitting an all-time high near $98 in the opening minutes of the session. The stock has more than tripled since the start of 2025, boosted in part by news AI favorite Nvidia (NVDA) had taken a stake in the company<\/a>.<\/p>\n Below we analyze the technicals<\/a> on the Nebius chart and identify major price levels worth watching out for after the stock\u2019s big move today.<\/p>\n After climbing to their highest level in more than three years last month, Nebius shares had consolidated in a pennant<\/a>, a chart pattern that signals a bullish continuation<\/a> upon a breakout to the upside.<\/p>\n That move higher took place on Tuesday, setting the stage for potential follow-through buying. Interestingly, prior to today\u2019s surge, the relative strength index<\/a> bottomed around its neutral reading, the same level that coincided with the end of a dip in early July.<\/p>\n Let\u2019s use technical analysis<\/a> to forecast a potential bullish price target<\/a> to monitor and also point out major support levels<\/a> worth watching during potential retracements.<\/p>\n Investors can forecast a bullish price target<\/a> by using the measured move technique, a study that analyzes chart patterns<\/a> to project future price movements.<\/p>\n When applying the analysis to the Nebius chart, we measure the percentage change of the steep uptrend<\/a> from May to August that preceded the pennant and add it to the pattern\u2019s top trendline value, assuming a similar continuation move may play out in the months ahead.<\/p>\n La historia contin\u00faa <\/p>\n For example, we apply a 145% increase to $72, which projects a target of $176.40\u2014implying that the stock could more than double from Monday\u2019s closing price.<\/p>\n During retracements, investors should initially watch the $87 level. The stock could be snapped up at this level by investors looking for entry points<\/a> on a retest of the prominent November 2021 peak, which also marks the stock\u2019s prior all-time high<\/a>.<\/p>\n A close below this level could see the shares fall to support near $76. This area may provide support around the top of the pennant, which also corresponds with a period of trading activity on the chart between September and October 2021.<\/p>\n Finally, a more-significant drop in Nebius shares could bring lower support at $54 into play. Investors may seek buying opportunities at this location near the February 2022 countertrend<\/a> peak and a range of sideways price action<\/a> on the chart that preceded a notable stock gap last month.<\/p>\n The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our\u00a0warranty and liability disclaimer<\/a>\u00a0for more info.<\/p>\n As of the date this article was written, the author does not own any of the above securities.<\/p>\n