Alex Dudov
Nvidia Corporation's stock is showing renewed technical strength as it approaches its earnings report. The semiconductor giant has cleared a multi-week consolidation pattern, putting a key price gap firmly in traders' sights. With momentum building and volume supporting the move, NVDA's technical setup is drawing attention across trading desks.
Ascending Triangle Breakout Confirms Bullish Momentum
Nvidia stock has confirmed a breakout above the ascending triangle pattern on the weekly timeframe as it approaches its next earnings report. NVDA has already cleared the triangle resistance and may be targeting a gap fill at around $206.88. This breakout follows weeks of compressing price action defined by rising support and horizontal resistance, indicating a constructive technical shift near the $190 level.
The weekly chart shows Nvidia carving out higher lows along an upward sloping trendline while consolidating under resistance near the $190 to $195 zone. This ascending triangle structure has now resolved to the upside, marking the first significant breakout attempt since the pattern formed, consistent with Nvidia stock nears critical breakout technical updates noting similar setups.
Gap Fill at $206.88 Emerges as Next Technical Target
Above the breakout, the next visible technical objective is the open gap near $206.88, which could act as a magnet for price action if the bullish momentum continues into earnings. Gaps often serve as focal points on charts where price can revisit to "fill" previously untraded territory before potential continuation.
Supporting indicators on the chart reflect steady momentum conditions. The Relative Strength Index is holding above neutral levels, indicating that upward pressure remains intact without reaching extreme overbought territory. Volume has also been constructive around the breakout zone, mirroring other reports that noted strong breakout confirmations with volume surges in NVDA. While short-term volatility may accompany the earnings event, the technical structure supports a continuation scenario if price maintains above the ascending trendline.
The significance of this setup lies in both technical continuity and timing. Breakouts ahead of major earnings reports can shape near-term narrative and tilt momentum frameworks, particularly when they occur from well-defined patterns such as ascending triangles. Whether Nvidia's push toward the gap fill near $206.88 materializes will depend on how the stock negotiates resistance levels and manages any earnings-related volatility, similar to how NVDA handled the $173 gap fill scenario previously, setting the tone for the next phase of price action in one of the market's largest semiconductor names.
Alex Dudov
