Nvidia stock has cleared a significant hurdle ahead of its eagerly anticipated earnings report next week. The stock has recovered losses from a downturn late last month, surging above its 200-day and 50-day moving averages. At its intraday high of $143.44 on Tuesday, Nvidia traded above its January 24 close of $142.62.
This was the session before the GPU maker experienced a dramatic one-day market value decline. The stock pared some gains but still traded at $140.34, up about 1%. The recent rally has brought Nvidia shares above several critical technical levels.
David Keller, Chief Strategist at Sierra Alpha Research, highlighted $130 as a crucial support level, which Nvidia recently surpassed. Ari Wald, head of technical research at Oppenheimer & Co., identified $140 as a key resistance point that the stock has now broken through. With these technical barriers cleared, investors are now focusing on Nvidia’s upcoming earnings results.
The results are expected to provide updates on the next-generation Blackwell GPU.
Nvidia clears major technical hurdles
Bank of America analyst Vivek Arya noted that Nvidia’s stock price might experience volatility.
This could be due to possibly subdued first-quarter guidance amid the transition to Blackwell GPUs. However, Arya maintained that Nvidia’s long-term fundamentals should remain strong. “We expect positive momentum to resume as investors look forward to NVDA’s leading new product pipeline and expansion into robotics and quantum technologies,” Arya said.
Despite the recent rally, Arya argued that Nvidia’s stock valuation remains attractive. It has a 24x price-to-earnings ratio based on 2026 estimates, at the lower end of its historical range of 25x to 56x. In related news, Super Micro Computer expects to see a revenue boost from the Blackwell rollout.
The company integrates Nvidia’s GPUs into its server racks. “We anticipate growth in new generation platforms to accelerate as supply ramps this quarter and beyond,” said Charles Liang, CEO and founder of Super Micro Computer. Investors are keenly awaiting Nvidia’s financial results next week as the company continues to lead the market in GPU innovation and expansion into new technological frontiers.
