Saad Ullah
Nvidia just passed its first big test. The stock held firm at $176 - a Fibonacci level that's now the foundation for what comes next. Bulls are eyeing the $183-$185.5 zone as the make-or-break point. Clear that ceiling, and we could see a momentum surge into October. Fail, and things get messy fast.
The Setup That Has Everyone Watching
Trader Real Blonde Broker spotted what matters here: a clean "bowl-shaped" bounce off that $176 floor. The stock's riding a short-term uptrend line, and it's holding. On the downside, watch $174.8 and $173.2 if support cracks. On the upside, $183-$185.5 is where sellers have been waiting. Break through, and $187.5 comes into play quickly. This isn't complicated - it's a binary setup with clear lines drawn.
Why This Actually Matters
This isn't just chart watching. Nvidia's moves ripple through the entire semiconductor space. If bulls can hold $176 while SPY stays strong, that $185 breakout becomes real. But slip below support, and the whole bowl pattern falls apart, dragging momentum traders to the exits. Short-term players are locked in because these levels have proven reliable - they're not arbitrary lines, they're where real money has been defending and attacking.
The bigger picture backs it up too. AI demand isn't slowing down, Nvidia's GPUs are still the backbone of every major AI deployment, and the stock moves in sync with the broader market. Options flow has tilted bullish heading into October, with traders loading up on near-term calls. When technicals and fundamentals line up like this, people pay attention.
October's the test. Above $185.5 opens the door to $187-$190. Below $176 flips the script and brings sellers back in force. Simple as that.
Saad Ullah
