Nvidia Stock Dropped After CEO Delivered GTC Keynote—Watch These Key Levels
Key Takeaways
- Nvidia shares slid Tuesday as CEO Jensen Huang gave a highly anticipated keynote address at the AI chipmaker’s GTC conference.
- After setting a record high in January, the stock has traded within a descending channel, potentially undergoing a consolidation phase before resuming its longer-term uptrend.
- Investors should monitor key support levels on Nvidia’s chart around $96 and $76, while also tracking important resistance levels near $132 and $150.
- Bars pattern analysis, which takes the bars that comprise the stock’s trending move from October 2023 to March last year and overlays them from this month’s low, predicts a potential upside price target of around $325.
Nvidia (NVDA) shares fell Tuesday as CEO Jensen Huang gave…
