Nvidia stock holds steady after price finds support at $199.95

Traders Union
All News
Financial News
Nvidia dips 0.41% to $206.54 today

Highlights

Nvidia posted Q1 revenue of $81.62 billion, up 85% year-on-year, underscoring exceptional demand for its products.
Despite strong fundamentals, the stock remains under broad selling pressure, reflecting short-term investor caution.
Technical signals are broadly bearish with expected trading between $199.95 and $213.13, and a higher probability of further downside.

Fundamental gains overshadowed by sustained selling pressure

Nvidia recorded first-quarter revenue of $81.62 billion, marking an 85% increase year-on-year and indicating robust realized demand for its products. This surge in reported revenues improves the company's near-term fundamental position and demonstrates continued strength in its core business. However, price action has remained under broader selling pressure.

Key support and neutral momentum restrict further price movement

On the technical front, NVDA is trading below the SMA-20 and SMA-50 on the H4 chart, while it stays above the SMA-200 on the daily timeframe, establishing $199.95 as a key support level and $213.13 as near-term resistance. The Ichimoku Kijun on the daily sits at $215.81 and is acting as immediate resistance. The MACD indicator is showing a strong sell signal, ADX remains neutral, and the RSI is at 46.08, interpreted as a sell. Both Stoch RSI and CCI are neutral, reflecting a lack of strong momentum in either direction. BBP is indicating overbought conditions, which contrasts with the generally neutral stance of the oscillators, and the Awesome Oscillator also remains neutral.

Sideways trading favored as upside breakout probabilities shrink

Over the next 2–3 trading days, NVDA is likely to fluctuate within a typical volatility range of $199.95 to $213.13. The probability of an upward breakout is relatively low at 28%. Most scenarios suggest sideways trading within this corridor, with any sustained bullish move requiring a close above resistance at $215.81. Conversely, a decisive break below $199.95 could accelerate downside momentum.

Viktoras Karapetjanc, analyst at Traders Union, sees Nvidia’s fundamentals as robust following strong year-on-year revenue growth. He notes that, despite recent price weakness, realized demand remains high and core business strength is confirmed. The technical setup is mixed, but support levels are holding for now. Karapetjanc believes that with fundamentals intact and sentiment constructive, upside scenarios remain plausible if resistance zones are reclaimed. "As long as $199.95 holds as support, I see a constructive path for bulls and will watch for potential breakout catalysts above $215.81."

Earlier, analysts noted that Nvidia’s robust revenue growth and capital market activities highlighted its long-term potential, despite prevailing downside risks and technical consolidation. With the latest data showing continued revenue strength but persistent selling pressure, traders should stay alert for an inflection point if the stock sustains a break above $215.81 or falls below $199.95.

Source of Data: NVDA Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.