Nvidia rally extends after earnings as buyers target $232
Nvidia stock gained more than 8% after a strong quarterly report. The market reaction keeps post-earnings momentum positive and makes further upside the base case for today’s session.
The main driver was the company’s second-quarter performance. Nvidia’s revenue rose 106% year over year to $96.2 billion, while Data Center revenue climbed 117% to $89 billion. Adjusted EPS came in at $2.22. The company also guided for roughly $108 billion in third-quarter revenue and expects revenue growth of around 70% in the next fiscal year.
China, however, remains the main source of uncertainty. Nvidia did not include Data Center compute sales in China in its current outlook despite the first small H200 shipments.
Nvidia has also paused some deals under its financing program for AI cloud companies following internal concerns about potential antitrust scrutiny. This remains a restraining factor for the stock.
Post-earnings breakout puts $232.30 within reach
Historically, Nvidia stock has often extended its post-earnings move into the following trading session, an approach that can be viewed as an Earnings 2nd Day strategy. The logic is straightforward: price continues in the direction of the momentum established after the report.
After an 8.7% gain, the base case remains a further move higher toward the nearest target at $232.30, where intermediate resistance sits below the record high.
The key support level is now $223. As long as the stock remains above this level, the post-earnings structure stays bullish.
A break and sustained move below $223 would invalidate the current setup and signal that momentum is weakening after the initial reaction to earnings.
Post-earnings strength keeps buyers in control
The strong report materially improved short-term sentiment around Nvidia and confirmed that demand for AI infrastructure remains robust. After a nearly 9% one-day gain, however, part of the positive outlook is already reflected in the price.
The next session will therefore test whether buyers can extend the post-earnings momentum. Holding above $223 would keep $232.30 in focus, while a move below this level would increase the probability of consolidation after the sharp rally.
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