Nvidia stock gains 1.1% as Q2 earnings eye for revenue above $46 billion

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Nvidia stock gains

Highlights

- Nvidia shares gained 1.1% as markets anticipate strong Q2 earnings, with revenue projected to surpass $46 billion.

- Analysts remain bullish, citing continued AI chip demand and upcoming product launches.

- Risks include high valuation sensitivity and potential regulatory headwinds in international markets.

The stock is currently hovering near a short-term resistance zone around $180–$183. The 50-day simple moving average (SMA) is trading just below the current price, offering a dynamic support level near $177. Meanwhile, the 200-day SMA sits lower around $154, reflecting Nvidia’s strong longer-term bullish structure despite recent volatility. The Relative Strength Index (RSI) is neutral at 55.8, leaving room for continued upward movement before entering overbought territory.

Momentum indicators are currently mixed. The Moving Average Convergence Divergence (MACD) is slightly negative, suggesting that while the broader trend remains up, short-term consolidation or mild retracement cannot be ruled out. Support levels can be found around $176 and then $171, with a key psychological floor at $160. On the upside, resistance is firm at $183.64, with a potential breakout level at $190, where sellers have historically emerged.

Nvidia stock price dynamics (June 2025 - August 2025). Source: TradingView

It’s also worth noting that Nvidia triggered a “death cross” earlier this year, with its 50-day SMA dipping below the 200-day—a bearish technical signal. However, the stock has since invalidated much of that sentiment, as it built a bullish base in the $165–$175 range before pushing higher in August. Technical analysts currently rate NVDA as a “Strong Buy” based on the alignment of 7 out of 8 leading technical indicators and 10 of 12 moving averages.

Q2 expectations drive sentiment ahead of earnings

Nvidia’s upcoming Q2 earnings report is at the center of investor attention. Analysts expect earnings of $1.01 per share on revenue of $46.05 billion—a figure that would mark significant year-over-year growth, driven by persistent demand for AI infrastructure, data centers, and gaming GPUs. Investor focus will also be on gross margins and data center segment performance, which accounted for over 70% of total revenue in the previous quarter.

Wall Street analysts are broadly bullish. Baird recently raised its price target to $225, while Stifel followed with a target of $212, citing strong pre-order activity for the GB200 AI chip platform. Additionally, expectations are high for Nvidia’s next-generation GB300 chips, expected to launch in late Q3, which could extend the company’s lead in the AI semiconductor space.

Investor confidence also appears supported by macroeconomic trends. Fed Chair Jerome Powell’s recent comments indicated that a potential interest rate cut could come as early as September, a development that could increase risk appetite and lend further support to growth stocks like Nvidia. Nonetheless, some headwinds remain, including ongoing restrictions on chip exports to China, particularly involving the H20 chips, which could limit upside in international segments.

Price forecast and trading scenarios

Given the combination of a favorable technical setup and bullish earnings expectations, Nvidia appears positioned for a potential breakout in the near term. A solid earnings beat, particularly with strong forward guidance, could catapult the stock toward the $200–$210 range. In a high-momentum scenario, Nvidia may even challenge the upper analyst target of $225 over the next four to six weeks.

However, risks remain. Should earnings disappoint or guidance fall short, a pullback toward $172–$175 is likely. In a deeper correction scenario, Nvidia may revisit support at $160, where institutional buying has historically emerged. Additional pressure could come from tightening U.S. export controls on advanced chips to China, which may limit growth in key international markets. Furthermore, elevated valuation multiples leave little room for error, making the stock vulnerable to even minor negative surprises in the earnings report.

Despite strong technicals, concerns over Nvidia’s high valuation are keeping bullish sentiment in check ahead of its Q2 earnings on August 27. Deutsche Bank reaffirmed its ‘Hold’ rating on August 23, citing elevated expectations and limited upside in the near term.

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