Headline: Nvidia’s Early Bounce Fades as Key Resistance Caps Gains
Nvidia stock tried to rally at the open, but sellers quickly reasserted control at well-watched technical levels. The intraday reversal keeps the short-term outlook cautious as traders focus on moving averages and Fibonacci retracement levels to gauge the next move.
The initial pop met firm resistance near a confluence of the 50- and 100-hour moving averages around $195.60. That rejection pushed NVDA back beneath the 38.2% Fibonacci retracement of the advance from the September low to October’s record high, near $193.87—signaling fading momentum and reinforcing overhead supply.
For the bullish bias to rebuild, price needs to reclaim the 38.2% retracement and close back above both hourly moving averages. Until that happens, the path of least resistance tilts lower, with the 200-hour moving average at $190.45 as the next support, followed by the 50% retracement at $188.21. A sustained break below those levels would likely deepen the bearish tone and invite further downside pressure as the technical structure weakens.
Key Points – NVDA’s early rally stalled at the 50- and 100-hour moving averages near $195.60. – Price fell back below the 38.2% retracement at $193.87, maintaining a cautious short-term bias. – Bulls need a move back above $193.87 and the hourly MAs to regain momentum. – Immediate supports are the 200-hour MA at $190.45 and the 50% retracement at $188.21. – A decisive break under $190.45 and $188.21 would strengthen the bearish setup and could accelerate selling.
