Nvidia Inventory Dropped After CEO Delivered GTC Keynote—Watch These Key Ranges

Nvidia (NVDA) shares fell Tuesday as CEO Jensen Huang gave a extremely anticipated keynote deal with on the AI chipmaker’s GTC convention.

Throughout his two-hour presentation, Huang unveiled the corporate’s roadmap for the subsequent two years, offering updates about its Blackwell and subsequent era Rubin chips, whereas additionally showcasing leading edge AI tech for robotics and telecommunications. Huang additionally introduced a brand new partnership with Normal Motors (GM) to coach AI manufacturing fashions.

The flurry of bulletins wasn’t sufficient to elevate investor spirits. Nvidia shares, which had been down about 1% earlier than the CEO began talking, closed the day 3.4% decrease at $115.43. Traders shall be looking out for additional updates from Nvidia because the convention continues within the subsequent few days.

After a number of years of explosive positive factors pushed by insatiable demand for the corporate’s AI choices, Nvidia shares have come beneath stress in early 2025 The inventory is buying and selling down 14% for the reason that begin of the yr amid considerations about overspending on AI infrastructure and uncertainty surrounding the Trump administration’s commerce insurance policies referring to tariffs and chip exports.

With GTC 2025 underway, let’s take a more in-depth have a look at Nvidia’s weekly chart and use technical evaluation to find key worth ranges price watching.

Descending Channel Consolidation

Since setting a report excessive in January, Nvidia shares have traded inside a descending channel, probably present process a consolidation section earlier than resuming their longer-term uptrend.

Extra just lately, the inventory discovered consumers close to the descending channel’s decrease trendline, although worth motion has remained lackluster since. In the meantime, the relative power index (RSI) stays beneath the 50 threshold, pointing to weak momentum.

Let’s establish key help and resistance ranges on Nvidia’s chart that buyers could also be monitoring and in addition challenge an upside worth goal to trace if the inventory resumes its longer-term transfer larger.

Key Help Ranges to Monitor

A breakdown beneath the descending channel’s decrease trendline may see the shares decline to round $96. This space on the chart would probably present help close to the final yr’s March peak and August trough.

A extra important drop may see the inventory’s worth revisit decrease help on the $76 stage. Traders could search entry factors on this area close to the low of a four-week pullback within the inventory final April. 

Necessary Resistance Ranges to Watch

Shopping for from present ranges may propel a transfer as much as round $132, a location that will present overhead resistance close to a horizontal line that hyperlinks a spread of comparable worth factors on the chart between final June and February this yr.

The subsequent larger resistance stage to look at sits on the key $150 stage. Traders who’ve come into the inventory at decrease costs could look to lock in earnings on this space close to a collection of peaks positioned just under the inventory’s report excessive.

Upside Worth Goal to Observe

To challenge a possible longer-term upside goal to trace if the inventory resumes its uptrend, buyers can apply bars sample evaluation, which analyzes prior tendencies to make future worth predictions.

When making use of this method to Nvidia’s chart, we take the bars that comprise the trending transfer from October 2023 to March final yr and overlay them from this month’s low. The evaluation speculates a possible upside worth goal of round $325 if a comparable transfer performed out. We chosen this prior pattern because it adopted an identical consolidation sample on the chart.

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As of the date this text was written, the writer doesn’t personal any of the above securities.