Peter Smith
Nvidia finds itself caught between two powerful forces right now. On one side, there's solid technical momentum building as NVDA price action forms what traders call an ascending triangle – basically, buyers keep stepping in at higher levels while sellers defend that $184 line in the sand. On the other side, there's political drama brewing in Washington that could hit chipmakers where it hurts.
NVDA Price Builds Pressure at Key $184 Level
The charts tell a pretty clear story here. NVDA is currently sitting at $183.12, literally knocking on the door of that $184 resistance. What makes this interesting is the pattern that's been forming – an ascending triangle that screams "breakout incoming."
This isn't just random price movement. Each time NVDA has pulled back recently, buyers have jumped in at progressively higher prices. Meanwhile, that $184 ceiling keeps holding firm. It's like watching a spring get compressed – something's got to give eventually.
Trump Administration Weighs 15% Export Hit on Chipmakers
Here's where things get spicy. The Trump team is apparently kicking around the idea of slapping a 15% export tax on companies like Nvidia and AMD, according to White House rep Leavitt speaking to CNBC. And they're not stopping there – this could potentially spread to other tech giants too.
Now, if this actually happens, it's not exactly great news for NVDA's bottom line. Export margins would take a hit, and overseas customers might think twice before placing big orders. But here's the thing – Nvidia isn't just any chip company. Their AI dominance and GPU leadership gives them some serious pricing power that could help absorb the blow.
What Happens Next for NVDA Price?
From a purely technical standpoint, that ascending triangle is textbook bullish. If NVDA can punch through $184 with some decent volume behind it, we could easily see a run toward $188-$190. That's not wishful thinking – that's just how these patterns typically play out.
But here's the kicker – if that resistance holds and we get some negative news on the tax front, don't be surprised to see NVDA retreat back to $180 or even $178. The political uncertainty adds another layer of complexity that technical analysis alone can't capture.
Peter Smith
