Artem Voloskovets
⬤ Nvidia stock is showing signs of finding its footing after pulling back from November highs. The expected third leg down to $164 never materialized—instead, the decline stalled near $170. This suggests selling pressure dried up before reaching the anticipated support zone, leaving traders watching for what comes next.
⬤ The daily chart reveals NVDA couldn't push to new lows, creating what looks like a double bottom around $170. After peaking near $212 earlier in the quarter, shares retraced sharply but found repeated support. Price has bounced modestly since then, though it's still sitting below the critical $188 resistance level that now acts as the line in the sand for any meaningful recovery.
⬤ If price can break and hold above $188, it would flip the technical structure and open the door for a run back toward the $212 all-time high. Until that happens, NVDA remains stuck in consolidation mode following its recent slide. The chart shows a clear horizontal wall that buyers need to punch through to validate the turnaround.
⬤ This matters beyond just NVDA—given Nvidia's weight in the tech sector, a confirmed breakout would signal renewed momentum across growth stocks. But if resistance holds, expect the stock to stay range-bound. Right now, all eyes are on whether buyers can push through $188 and shift momentum decisively higher.
Artem Voloskovets
