Watch These Nvidia Price Levels as Stock Seesaws After Earnings Report | Global News Avenue

nvidia(NVDA) Stocks are seen in Wednesday’s expanded trading after AI investors’ favorite release Better than expected quarterly results And in The booming demand for its advanced AI chips.

The company sees fourth quarter income A 78% surge a year ago to $39.33 billion, the company’s next-generation Blackwell chips accounted for nearly 30% of net sales during that period. NVIDIA’s chief financial officer Colette Kress said the company is expected to significantly increase Blackwell Chips sales in the first quarter.

Executives also noted that the company’s new chips will be used to provide AI software and applications, thus expanding their current use of developing and training AI.

NVIDIA shares rose nearly 4% during the regular trading period today, about flat in the year through Wednesday’s closed, but have climbed 67% in the past 12 months. The stock fell 1.5% to $129.32 in expansion trading after the quarterly report and after fluctuating between earnings and losses during a conference call with company executives.

Below, we carefully studied Nvidia’s Weekly chart And apply Technical Analysis Point out key price levels worth paying attention to.

Expected merger

After formation Bullish swallowing pattern exist 50-period moving averageNVIDIA shares move higher the next week and then enter merge The stage is ahead of the quarterly results of chip manufacturers.

at the same time, Relative Strength Index Read about 50 to represent neutral conditions while reducing Trading volume In recent weeks, the larger market players remained off the market ahead of today’s report.

Let’s determine the key Support level Elevated areas that investors may be tracking.

Key support levels to watch

The first support level to watch nearby is about $130. The region is only 1% lower than Wednesday’s closing price and may attract interest on buying around A Trend line connect peak In June, July and August, there are a series of comparable price points on the chart between December and February.

one break down Under this important technical level, which could lead to a drop to the $113 level, on the chart, stocks may find support near the lows of the bullish pherophy pattern.

Further selling is more important correct It fell to around $96, down from Wednesday’s closing price of about 27%. Such a decline could lead investors to look for buying opportunities near the famous March peak, which is closely aligned with August Sell groove.

Critical elevated areas for monitoring

After revenue, chipmakers’ stocks were higher, revisiting the crucial $153. Tactical Trader Accumulated stocks Through the recent integration phase, it may be searched Exit point Near the stock High record.

Investors can use the Bars Pattern tool to predict a long-term overhead area to monitor. When applying analysis to NVIDIA’s charts, we will stock trend Moving from October 2023 to March last year and covering from this month’s lows, this forecast bullish target is about $255.

We chose this previous move as it also began a bullish sanitation pattern after a brief merger period, thus providing new clues upgrade If possible, go out Price action rhyme.

Comments, opinions and analysis expressed by Investopedia are for informational purposes only. Read ours Warranty and liability disclaimer For more information.

As of the date of writing this article, the author does not own any of the above securities.