Saad Ullah
NVIDIA has been crushing it on Wall Street this year, riding the AI wave and GPU demand to impressive heights. But even the hottest stocks can't climb forever without a breather. After touching $183.98, NVDA has pulled back to $173.50, leaving traders wondering if this is just a quick pit stop or the start of something bigger.
Trader Insights on NVDA's Current Phase
Trader @yasutaketin points out what many are thinking - NVDA might be hitting a rough patch despite solid fundamentals. The pattern is classic: great earnings often trigger profit-taking as investors cash in their gains. That's exactly what we're seeing with NVDA's slide from recent highs.
Here's what traders are watching:
- Resistance: $183.98 (recent peak)
- Support: $168.44 (key floor to hold)
- Trend: Still above long-term averages, but momentum is weakening
The stock even dipped to $172.70 during trading, showing increased volatility. If $170 doesn't hold, we could see more downside.
What's Next for NVIDIA?
NVIDIA's long-term story hasn't changed - they still dominate AI and gaming markets. But short-term, some consolidation might be healthy after the recent run-up.
Traders are looking for a move back above $180 to confirm the bulls are still in control, while a break below $168 could signal deeper pullback ahead.
Saad Ullah
