Nvidia Inventory Dropped After CEO Delivered GTC Keynote—Watch These Key Ranges

Nvidia (NVDA) shares fell Tuesday as CEO Jensen Huang gave a extremely anticipated keynote deal with on the AI chipmaker’s GTC convention.

Throughout his two-hour presentation, Huang unveiled the corporate’s roadmap for the subsequent two years, offering updates about its Blackwell and subsequent technology Rubin chips, whereas additionally showcasing leading edge AI tech for robotics and telecommunications. Huang additionally introduced a brand new partnership with Common Motors (GM) to coach AI manufacturing fashions.

The flurry of bulletins wasn’t sufficient to elevate investor spirits. Nvidia shares, which had been down about 1% earlier than the CEO began talking, closed the day 3.4% decrease at $115.43. Buyers will probably be looking out for additional updates from Nvidia because the convention continues within the subsequent few days.

After a number of years of explosive positive aspects pushed by insatiable demand for the corporate’s AI choices, Nvidia shares have come below strain in early 2025 The inventory is buying and selling down 14% because the begin of the 12 months amid issues about overspending on AI infrastructure and uncertainty surrounding the Trump administration’s commerce insurance policies referring to tariffs and chip exports.

With GTC 2025 underway, let’s take a more in-depth take a look at Nvidia’s weekly chart and use technical evaluation to find key value ranges price watching.

Descending Channel Consolidation

Since setting a document excessive in January, Nvidia shares have traded inside a descending channel, doubtlessly present process a consolidation part earlier than resuming their longer-term uptrend.

Extra just lately, the inventory discovered consumers close to the descending channel’s decrease trendline, although value motion has remained lackluster since. In the meantime, the relative energy index (RSI) stays under the 50 threshold, pointing to weak momentum.

Let’s determine key assist and resistance ranges on Nvidia’s chart that buyers could also be monitoring and likewise mission an upside value goal to trace if the inventory resumes its longer-term transfer greater.

Key Help Ranges to Monitor

A breakdown under the descending channel’s decrease trendline might see the shares decline to round $96. This space on the chart would probably present assist close to the final 12 months’s March peak and August trough.

A extra important drop might see the inventory’s value revisit decrease assist on the $76 stage. Buyers could search entry factors on this area close to the low of a four-week pullback within the inventory final April. 

Necessary Resistance Ranges to Watch

Shopping for from present ranges might propel a transfer as much as round $132, a location that will present overhead resistance close to a horizontal line that hyperlinks a variety of comparable value factors on the chart between final June and February this 12 months.

The following greater resistance stage to observe sits on the key $150 stage. Buyers who’ve come into the inventory at decrease costs could look to lock in income on this space close to a collection of peaks positioned slightly below the inventory’s document excessive.

Upside Value Goal to Monitor

To mission a possible longer-term upside goal to trace if the inventory resumes its uptrend, buyers can apply bars sample evaluation, which analyzes prior tendencies to make future value predictions.

When making use of this system to Nvidia’s chart, we take the bars that comprise the trending transfer from October 2023 to March final 12 months and overlay them from this month’s low. The evaluation speculates a possible upside value goal of round $325 if a comparable transfer performed out. We chosen this prior pattern because it adopted an identical consolidation sample on the chart.

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As of the date this text was written, the creator doesn’t personal any of the above securities.