Yesterday, the world’s most valuable company, Nvidia, released its quarterly earnings, which exceeded expectations:
→ Earnings per share: actual = $1.62 (forecast = $1.53);
→ Revenue: actual = $68.13 billion (forecast = $66.13 billion).

Sentiment was further supported by the chipmaker’s guidance for first-quarter revenue above market estimates, reflecting continued heavy spending by major technology companies on artificial intelligence processors.

As the Nvidia (NVDA) share price chart shows, the stock rose above the psychological $200 level in after-hours trading, but subsequently pulled back, which may point to excessive optimism and aggressive selling pressure.

Technical Analysis of the Nvidia (NVDA) Chart

On 10 February, when analysing NVDA price movements, we:
→ reaffirmed the validity of the long-term ascending channel (which remains intact) and highlighted the importance of the $192.50 resistance level;
→ suggested that the initiative was on the side of the bulls, who were aiming to resume the long-term uptrend towards the psychological $200 mark.

Since then:
→ NVDA formed a pullback from the указанного resistance level towards the 50–61.8% Fibonacci retracement zone;
→ on 17 February, it resumed its advance, supported by a short-term ascending channel (marked in black), ultimately reaching $200.

Overall, the picture appears constructive, and the next potential target for NVDA may be the median line of the long-term channel. However, it is worth recalling the recent experience of other technology giants whose shares rallied briefly after earnings before turning lower (for example, Meta). The sharp reversal from above the $200 mark lends weight to this scenario.

Therefore, if bulls are to confirm control over NVDA shares, it is important for the price to hold above the $192.50 level.

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