Nvidia stock price levels to watch as earnings report looms

Shares are up 43% from early August lows

Key recommendations

• Nvidia stock is in the spotlight this week as the AI ​​favorite prepares to release its highly anticipated quarterly earnings report on Wednesday. Investors will be looking for sustained growth in the chipmaker’s data center segment and updates on next-generation Blackwell chips.

• Shares of AI Darling, which are up 43% from their August low, have been buoyed in recent weeks by bullish coverage on Wall Street and forecasts of higher earnings.

• The share price has recently consolidated into a rectangular formation, indicating a continuation of the chip maker’s move higher.

• Nvidia stock may find support around $116 and $97, but faces resistance near $136 and $170.

Nvidia (NVDA) shares are in the spotlight this week as the artificial intelligence (AI) favorite prepares to release its highly anticipated fiscal second quarter 2025 earnings report on Wednesday. Investors will be watching for sustained growth in the chipmaker’s data center segment and updates on next-gen Blackwell chips following reported delays.

Shares of AI Darling, which are up about 43% from their August low, have been buoyed in recent weeks by bullish coverage on Wall Street and forecasts of higher earnings. The company, which has beaten past expectations for both revenue and earnings in recent quarters, is under pressure to deliver another successful quarterly report.

Below, we’ll take a closer look at Nvidia’s chart and use technical analysis to identify important price levels to watch out for amid the AI ​​major’s looming quarterly results.

The formation of the rectangle indicates the continuation up

Since early August, since an intraday reversal to mark the end of a 26% correction from its highest close, Nvidia stock has recovered the lion’s share of those losses. The price recently consolidated in a rectangular formation, indicating a continuation of the chipmaker’s move higher.

However, it’s worth noting that trading volumes remain below long-term averages during the stock’s resurgence, indicating possible reticence by institutional investors ahead of the company’s quarterly results.

The stock gained 4.6% to $129.37 on Friday.

Amid the potential for earnings-driven volatility in Nvidia stock this week, investors should watch these key support and resistance levels.

Support levels to watch

A break below the rectangle pattern could see shares initially test the $116 level, an area on the chart in close proximity to the 50-day moving average where buyers could look for entry points near a horizontal trend line connecting a series of similar trading levels between May and July.

The story continues

A deeper pullback after the earnings could trigger a decline to $97, where the stock would likely draw significant support from two prominent price tops that formed on the chart during March. This region is also just above the stock correction low seen in early August, the general market selling off.

Resistance zones to monitor

On an upward breakout of the rectangle formation, the stock may encounter resistance around $136, where it could find investors willing to lock in profits near the June 18 record close, a level that also aligns with the top July actions.

To forecast an area of ​​potential resistance above Nvidia’s all-time high (ATH), we can use the measurement principle. To do this, we calculate the distance of the trending move that preceded the rectangle and add that amount to the breakout point of the pattern. In this case, we add $39 to $131, which projects a target of $170, a location where the stock may face selling pressure.

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At the time of writing, the author does not own any of the above securities.

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