Saad Ullah
Nvidia has been riding high on the AI wave, becoming one of the market's top performers over the past year. However, after its impressive run to nearly $184, the stock is now at a critical juncture where technical indicators suggest we might see some pullback in the coming weeks.
NVDA Price Faces a Critical Resistance at $184
Nvidia has been a standout winner in the stock market, powered by the AI revolution and huge demand for its graphics chips. But after rocketing up to around $184, the stock looks like it might be running out of steam.
Market analyst @CyclesFan recently pointed out that NVDA could have hit a significant peak at this level. He's watching $168.80 as the make-or-break point on a weekly basis. If the stock can't stay above this level, we could be looking at a notable pullback.
Nvidia (NVDA) Price Outlook: Eyes on $168.80 Support
Right now, NVDA is trading sideways near its recent highs, and the price action is getting tighter. If we see a decisive weekly close below $168.80, it would signal that the bulls are losing control. This could send the stock down to its 20-week moving average, which sits around the mid-$140s.
This potential correction might happen in September or October, which historically tends to be a rough time for stocks anyway. But here's the thing - even with this short-term risk, Nvidia's story hasn't changed. The company is still leading the AI charge, and its data center business keeps growing strong.
Even if NVDA does drop to that 20-week moving average, many smart investors would probably see it as a chance to buy the dip rather than a sign that the party's over. The long-term picture still looks solid, backed by institutional money flowing in and the AI boom that's just getting started.
The bottom line is simple: stay above $168.80 to keep the good times rolling, or risk a slide toward $140 if that support breaks.
Saad Ullah
