Usman Salis
Fresh off another stellar earnings performance, Nvidia is doing what it does best—setting up for its next big move. While most stocks would be catching their breath after such a run, NVDA traders are already eyeing the next psychological milestone. Here's why $200 might be closer than you think.
NVDA Stock Builds Momentum for $200 Breakout
Nvidia is currently trading around $174.57, consolidating in what traders are calling a "coiled spring" setup. Despite a modest -0.47% dip, the stock has been holding remarkably well within its recent range, bouncing between $173.81 and $176.90.
What's got traders excited isn't just the price action—it's the underlying momentum that's still intact from the earnings catalyst. According to recent social media buzz from technical analysts, the probabilities are strongly stacked in favor of a bullish continuation toward the $200 target.
The setup looks textbook: we've got a consolidation phase after a strong earnings-driven move, with the stock refusing to give up much ground despite broader market jitters.
Technical Pattern Points to NVDA Price Explosion
The chart is painting a pretty clear picture of what could come next. Nvidia appears to be forming a bullish continuation pattern, with key resistance levels lining up perfectly in the $190-$200 zone.
Here's what's particularly interesting—the stock is holding above crucial $170 support like a champ. As one trader put it, "trading is all about probabilities," and right now, those probabilities are heavily tilted toward NVDA hitting its $200 target sooner rather than later.
If this breakout materializes, we're not just talking about another milestone—we're potentially looking at the launchpad for the next leg higher. The way NVDA has been trading lately, $200 might just be a pit stop on the way to even bigger numbers.
Usman Salis
