Watch These Nvidia Stock Price Levels as Chip Export Curb Set to Hit Earnings

On Wednesday, about 7% of NVIDIA (NVDA) shares, the company said that it is set to charge a fee of $ 5.5 billion as a result of US sanctions on export of its AI chips to China.

The company said through a regulatory filing that it would require China an export license to sell its popular H20 chips amid the concerns used by Beijing to create a supercomputer. Vikas caught those who monitors the market from the guard, NVIDIA designed the H20 graphics processing units (GPUS), which was thought by the former administration to follow the biden-era chip export curb on advanced chips.

Nvidia’s shares have staged a minor recovery above this month, but lost about its value since the onset of Wednesday, amidst the onset of the year amidst the beginning of the year amidst the beginning of the year amidst the beginning of the year.

Below, we take a close look at the chart of NVIDIA and apply to indicate major price levels to apply technical analysis.

Doji candlestick pattern indicates indifference

Last week, after purchasing interest near the lower trendline of a falling veg pattern, NVidia’s shares held rally before running under sales pressure near the top trendline of the pattern.

It is worth noting that although the stock fell rapidly in Wednesday’s trading session, the price formed a DOJI, a candlestick pattern that suggests indifference between buyers and vendors.

Let us identify major support and resistance levels on the chart of Nvidia that investors can monitor.

Major support levels for viewing

Nvidia shares fell 6.9% to shut down on Wednesday session at $ 104.49.

Further sales in stocks can initially see value revision support around $ 96. The region can attract buyers near last year’s major march twin peaks, a location on the chart is also located above the tariff-powered low of this month.

Bulls failure to protect April low may trigger a large decline to a level of $ 76. Investors can seek the entry points in the area near the remarkable swing of last April.

Important resistance level for surveillance

A volume-supported brakeout above the top trendline of the falling veg pattern can run a step around $ 130, currently above the 200-day moving average. Shares may face overhead resistance in the region near August peak and December trough.

Finally, buying above this level can see Nvidia shares climb up to $ 150. Investors may decide to lock in profits at this price near several peaks formed on the chart just below the record high set of stock in early January.

This area also aligns with an estimated measured gait price target that calculates the depth of the fall falling into the points and adds that amount to the upper trendline of the pattern. For example, adding $ 40 to $ 110 is a reversal target of $ 150.

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As this article was written, the author has none of the above securities.