Saad Ullah
⬤ Nvidia Corp. shares are currently consolidating after a powerful rally pushed the stock back toward previous all-time levels. On the weekly timeframe, NVDA is holding steady around the $187 mark, sitting comfortably above several former resistance zones that have now flipped to support. Recent price action suggests momentum is quietly building beneath the surface instead of fading after the strong advance.
⬤ The chart reveals two critical horizontal support levels—one in the mid-$150s and another around $170—both of which previously acted as ceilings before turning into floors. Following a corrective dip earlier in the cycle, Nvidia rebounded sharply and climbed into the $190–$200 range before settling into sideways movement. What's notable is that this consolidation hasn't triggered any meaningful pullback, signaling that selling pressure remains light at these elevated levels.
⬤ Technical indicators back up this reading. The MACD sits in positive territory with signal lines trending lower but still avoiding a bearish crossover. The RSI hovers in the mid-to-upper range, reflecting balanced conditions without showing overbought stress. Volume has cooled compared to the peak rally days, which fits with a pause in directional movement rather than a trend reversal. Combined, these signals suggest the stock is digesting recent gains instead of showing structural cracks.
⬤ This consolidation phase matters beyond Nvidia itself because the stock remains a bellwether for tech and semiconductor sector momentum. Holding above former resistance while maintaining constructive technicals can shape broader market expectations around trend strength and leadership. How NVDA breaks out of this range could influence sentiment across growth stocks, especially as price stabilizes near historically significant zones while indicators stay supportive.
Saad Ullah
