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Nvidia (NVDA) shares are in focus this week as the artificial intelligence (AI) favorite prepares to release its highly anticipated earnings report for its fiscal 2025 second quarter on Wednesday. Investors will be looking out for sustained growth in the chipmaker’s data center segment and updates about its next-generation Blackwell chips following reported delays.
The AI darling’s shares, which have surged around 43% from their August low, have been bolstered in recent weeks by bullish Wall Street coverage and growing earnings forecasts. The company, which has blown past expectations for both revenue and earnings in recent quarters, is under pressure to deliver another blockbuster quarterly report.
Below, we’ll take a closer look at Nvidia’s chart and use technical analysis to identify important price levels to watch out for amid the AI behemoth's looming quarterly results.
Since staging an intraday reversal in early August to mark the end of a 26% correction from their record closing high, Nvidia shares have recovered the lion’s share of those losses. The price recently consolidated within a rectangle formation, indicating a continuation of the chipmaker’s move higher.
However, it’s worth noting that trading volumes remain below longer-term averages during the stock’s resurgence, pointing to possible apprehension by institutional investors ahead of the company’s quarterly results.
The stock gained 4.6% on Friday to close at $129.37.
Amid the potential for earnings-driven volatility in Nvidia shares this week, investors should eye these key support and resistance levels.
A breakdown below the rectangle pattern could see the shares initially test the $116 level, an area on the chart in close vicinity to the 50-day moving average where buyers could look for entry points near a horizontal trendline connecting a series of similar trading levels between May and July.
A deeper post-earnings retracement could spark a fall to $97, where the shares would likely attract significant support from two prominent price peaks that formed on the chart during March. This region also sits just a little above the stock’s correction low recorded during the early August broad-based market sell-off.
Upon an upside breakout of the rectangle formation, the shares may encounter resistance around $136, where they could find investors willing to lock in profits near the June 18 record close, a level that also aligns with the stock’s July peak.
To forecast a potential resistance area above Nvidia's all-time high (ATH), we can use the measuring principle. To do this, we calculate the distance of the trending move that preceded the rectangle and add that amount to the formation's breakout point. In this case, we add $39 to $131, which projects a target of $170, a location where the shares may run into selling pressure.
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A dentist has revealed that dating a first born daughter is by far one of the best decisions you can make as a man.
He said dating a first born daughter is by far one of the best decisions you can make as a man.
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A man has shared his amazing seven-year transformation experience.
The man who really has not changed but has only grown older
Click to watch
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A man who has the gift of prophecy has recounted his encounter with a lady who wore waist beads to visit him in his house.
He said a girl once visited him and he felt something negative is around so he just activated his chakras
She entered his room with her waist beads and immediately his light bulb sp@rked and went off and the 3 beads cut immediately and fell on the floor noisily. She blocked him after the incident.
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A lady has written about how a 32-year-old man and father-of-two (firstborn of his family) is treating his parents who went above and beyond to send him to the UK.
She said he was a 32yrs old man with 2 kids, his parents tried all their best to push him to UK after several attempt, he got to UK for almost a year and you still keep calling his parents to send him money and always crying about how tough UK is.
He know the mum is hypersensitive and keep calling to thr£@ten her that he’ll come back home, he rented a big apartment, he said he couldn’t get himself a smaller one, now he called again to request 4million and also lied that your flatmate has been paying house bills on his behalf and now he has to pay her 4million, he didn’t allow nobody speak with her, now his hypertensive mum is running left and right because of him, he was looking for every means possible to strip his family n@ked, he made desperate decisions because of money, but
Please if you don’t need these people as your family, leave them alone and stop adding salt to their wounds.
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