Saad Ullah
Nvidia's relentless rally has traders buzzing about a $194 price target, with the chip giant's upcoming earnings potentially providing the final push higher.
NVDA's Technical Setup Points to $194 Breakout
Trading at $180.45, well above its 10-day moving average of $165.06, NVDA continues following the 1.618 Fibonacci extension from February's crash. According to market chatter, "nothing material changed this week," reinforcing the bullish thesis.
The recovery from February's $86.62 low tells a compelling story. After retesting $153.13 as support, institutional buyers stepped in, launching the current rally toward the $194.23 Fibonacci target.
August 27 Earnings Could Seal the Deal for NVDA
Traders don't expect NVDA to hit $194 before earnings on August 27 – and that's perfect timing. Nvidia's quarterly reports historically act as catalysts, pushing through key resistance levels.
With NVDA trading in the $180-$185 range, strong earnings could provide the momentum needed to reach that Fibonacci extension. The setup looks textbook: consolidation followed by a fundamental catalyst that aligns with technical targets.
Saad Ullah
