Nvidia Stock Price Levels to Watch as Earnings Report Looms | Global News Avenue

NVIDIA (NVDA) stocks in focus ahead of Monday Artificial Intelligence (AI) Honey quarterly results Later this week, reports emerged that the company’s next-generation artificial intelligence chips were experiencing server overheating issues.

AI chip makerThe company will report results after the market close on Wednesday. expected to be announced Revenue and profits were up more than 80% from a year earlier, according to consensus analyst estimates. Investors will also be watching for updates on Nvidia’s Blackwell AI chip shipments amid concerns that supply constraints could limit the upside to the company’s near-term prospects.

Blackwell chips may also come under further scrutiny information Reports on Sunday said they experienced overheating issues when placed in a server rack that holds 72 servers. Graphics Processing Unit (GPU).

Nvidia shares fell 0.7% to $141 in early trading on Monday, after falling more than 3% earlier in the session. Shares have nearly tripled since the start of 2024.

Next, let’s break it down technical At NVIDIA Weekly chart To identify key price levels that other investors may be focusing on.

Buying momentum slows

After entering June peakNvidia stock at symmetrical triangle before breaking out of last month’s pattern.

Since then, however, the stock has continued to hit new highs, but trading volume The continued decline indicates a lack of buying participation from larger market players.

Additionally, as the stock has hit higher peaks since March, Relative Strength Index (RSI) A relatively shallow peak has formed to create a bearish disagreementthe chart signals that buying momentum is slowing.

Let’s look at three keys support level On Nvidia’s chart and use technical analysis to make a bullish prediction price target.

Key support levels worth paying attention to

one break down A move below the symmetrical triangle could see the stock initially revisit support near $97, a level on the chart where investors could look for buying opportunities near the March peak, which was similar to early August’s The lows are closely related.

Sales below that level open the door retracement Dropped to the $76 level, where on the chart the stock may encounter support from mid-April pull back low.

one technical fixes The stock could be in play at the $48 level. This area is about 66% below Friday’s close and could attract bargain hunters near a tight range. merge Formed on the chart between July and January 2023.

Price Targets to Monitor for Bar Patterns

If AI Investors’ favorite stocks continue to move higher, we can predict potential bullish targets by using bar charts, a technique that analyzes previous data. trend Predict future price movements.

When applying this tool to Nvidia’s chart, we extracted the stock’s trend movement from January to June and repositioned it from last month’s symmetrical triangle breakout. The forecast bullish target is around $270, where investors may decide to trade Lock in profits.

We chose this previous move because it began after a consolation period breakout, similar to how the current rally began, which is likely to be the case if price history rhymes.

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As of the date of this writing, the author did not own any of the securities mentioned.