Nvidia Stock Price Levels to Watch After Earnings Top Expectations | Global News Avenue

NVIDIA (NVDAShares were higher in premarket trading Thursday after the artificial intelligence chipmaker reported quarterly results and outlook that beat analysts’ expectations.

The company has attracted much attention data center revenue Spending on artificial intelligence infrastructure more than doubled year over year in the fiscal third quarter, driven by spending by big tech companies. Executives tell analysts what happened after earnings conference call Demand for the chipmaker’s next-generation Blackwell systems is huge, and the company is working to increase supply, putting Blackwell’s revenue on track to reach Exceed estimate.

Nvidia shares have nearly doubled since the start of the year as the company dominates the market for artificial intelligence chips and booms in demand for the silicon that powers the technology. The stock rose nearly 2% to around $149 in recent premarket trading.

Below, we take a look at Nvidia’s chart and use technical analysis Identify key post-earnings price levels to watch.

Volume is light after ascending triangle breakout

Nvidia stock trades in four months ascending triangle before breaking out of last month’s chart pattern. The stock price has since continued higher, with the 50-period moving average providing support.

It is worth noting that trading volume Still in a light state breakthroughsuggesting larger market players may remain on the sidelines ahead of the chipmaker’s quarterly report.

Looking ahead, let’s turn to Nvidia’s chart to identify a few important post-earnings support levels that investors may be watching and point to potential bullish moves price target Monitor whether the stock continues its long-term run uptrend.

Important support levels worthy of attention

Investors should initially focus on the $136 level due to earnings-related weakness. This level could provide support near the top trendline of the ascending triangle, and this area on the chart could flip from the previous area. resist to future support.

one break down Below that level, shares could drop to around $115, where the stock could attract buying interest near a trendline connecting a series of comparable trading levels on the May through October chart.

Further selling in the stock could bring the key $97 area into play. Investors can look for buying opportunities at this level near two points peak The prices formed on the March chart closely correlated with prices in early August sell off low.

Measured moving price target

Investors can predict chart-based price targets by applying the Measurement Movement technique (also known as “Measurement Movement Technique”) Measurement principleto Nvidia’s chart.

To do this, we calculate the distance around the widest points of the two trend lines of the ascending triangle and add that distance to the top trend line of the pattern. In other words, we add $50 to $136, with a forecast target of $186, about 27% above Wednesday’s closing price, which investors may choose to Take profits.

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