Nvidia stock rebound gains momentum as key support holds
Nvidia held key support at $216.50 after four consecutive down sessions, increasing the probability of a short-term recovery. At the same time, investor attention is already shifting toward the August 26 earnings report.
The Financial Times reported that China has started easing restrictions on shipments of Nvidia H200 chips. ByteDance and Tencent have each received around 10,000 H200 units, while several other Chinese technology companies could be approved for shipments of a similar size. For Nvidia, this is a positive development, as a return to larger-scale deliveries would gradually restore access to one of the key markets for AI infrastructure.
The competitive backdrop, however, has become more challenging following Google’s agreement with Marvell to develop custom AI chips. Google also secured the option to acquire up to $12.2 billion worth of Marvell stock, underscoring the push by major hyperscalers to expand the use of proprietary AI accelerators and reduce their reliance on standard GPUs.
Nvidia recovery setup targets the $224.86 gap
The base-case scenario from the previous analysis has fully played out. NVDA fell into the $214–216.50 support zone.
For today’s session, the stock is positioned for a potential rebound after holding key support at $216.50. Another factor supporting this setup is the four consecutive sessions of declines that preceded the stabilization.
The main target for the coming days is the unfilled gap from August 17 at $224.86. As long as the current support holds, a move toward this area remains possible.
The $214–216.50 zone remains critical for the current setup. A break and sustained move below it would invalidate the short-term recovery scenario and bring renewed selling pressure into focus.
Nvidia earnings could trigger a sharp post-report gap
The main event for NVDA is now its fiscal 2027 second-quarter earnings report, scheduled for August 26 after the market close. Volatility could gradually increase as the release approaches.The report itself could trigger a significant price gap in either direction, regardless of how the stock trades in the preceding sessions.
For short-term traders, leverage control therefore becomes increasingly important as August 26 approaches. Reducing excessively large leveraged positions can help limit exposure to a sharp post-earnings gap that cannot be fully managed through standard intraday risk controls.
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