Nvidia, currently the world’s most valuable listed company, reported quarterly results that surpassed market expectations:
→ Earnings per share came in at $1.62 versus a forecast of $1.53;
→ Revenue totalled $68.13 billion, ahead of the expected $66.13 billion.
Additional support for the stock came from the company’s first-quarter revenue guidance, which topped analysts’ projections. Management signalled that major technology firms continue to invest heavily in artificial intelligence chips.
According to the NVDA price chart, the stock climbed above the psychological $200 threshold in after-hours trading. However, it later retreated, suggesting that enthusiasm may have been overextended and that sellers remain active at higher levels.
Technical Outlook for NVDA
On 10 February, our analysis highlighted:
→ the persistence of the long-term ascending channel;
→ the significance of the $192.50 resistance level;
→ the likelihood that buyers would attempt to reassert the broader uptrend towards $200.
Subsequently:
→ the price pulled back from resistance into the 50–61.8% Fibonacci retracement area;
→ on 17 February, upward momentum resumed within a short-term rising channel, eventually carrying the stock to $200.
The broader technical structure still appears constructive, with the median line of the long-term channel potentially serving as the next upside objective. That said, recent examples among other large technology firms show that post-earnings rallies can quickly reverse. The sharp pullback from above $200 increases the risk of a similar development.
For bulls to maintain control, holding above the $192.50 level will be crucial.
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