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Jake Wujastyk, founder and CEO of TrendSpider, said the leading AI semiconductor stock is currently positioned at a crucial technical level on the chart. Wujastyk suggested that a sharp rebound at this point could result in another 10–20% move for the semiconductor sector before Nvidia's earnings. He warned that if the stock's VWAP fails and closes lower on a weekly timeframe, there could be a significant drop.
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Wujastyk has previously tracked extended declines in equity benchmarks, noting that Russell 2k futures posted nine consecutive weekly losses. He has also highlighted unusual single-day price action in individual stocks such as CRWV. His observations have often focused on technical patterns and price behavior.