Peter Smith
Following another impressive earnings report that highlighted Nvidia's continued dominance in AI and semiconductor markets, the stock has entered a pullback phase that has traders reassessing their positions. While the fundamentals remain exceptionally strong, technical analysis suggests several key levels that could shape NVDA's near-term trajectory as the market digests the recent gains.
NVDA Price Pullback After Strong Earnings
Nvidia just delivered another knockout earnings report, proving once again why it's the king of AI and semiconductors. But after the initial pop, the stock has started cooling off, which has traders looking at the charts to figure out what's next. According to @thestockwhale, NVDA is getting close to some important technical levels that could decide where it heads this week.
Right now, Nvidia is trading around $172.96 and looks like it's taking a breather. The big question is whether buyers will step in at these levels or if we'll see a deeper pullback.
Using Elliott Wave analysis and Fibonacci levels, here's what traders are watching:
Key support levels:
- $147.04 (first major support)
- $120.69 – $115.29 (deeper pullback zone)
- $107.33 (strong support level)
Critical level: $98.09 - if it breaks below here, the bullish trend could be in trouble
Upside target: $207.78 if the rally continues
These levels show that NVDA is at a make-or-break moment. If it bounces from current levels, we could see another run toward $200. But if support fails, the stock might slide much further.
Nvidia Price Outlook – What to Expect Next
Even with this pullback, Nvidia's business is still firing on all cylinders thanks to huge demand for AI chips. The key thing to watch is how the stock behaves around the $170-$160 area. If it holds here, we could see a quick bounce back up.
If that support breaks, traders will be watching for a drop to $147 or even down to the $120 range. Long-term though, Nvidia still looks great with AI driving massive growth. This pullback might just be a healthy pause before the next big move up.
Peter Smith
