NVIDIA Earnings and Technical Patterns: Can the AI Giant Continue Its Ascent?

– Q3 Earnings (Nov. 20): Revenue surged 82% YoY to $33.07 billion, driven by strong demand for AI chips​markets

– Dow Jones Addition: NVIDIA joined the Dow Jones Industrial Average, cementing its blue-chip status​Investopedia

– Product Update: Minor issues reported with next-gen Blackwell GPUs, but market impact is expected to be minimal​

NVIDIA experienced mixed developments recently. Initially, the stock reacted positively, trading above $140 (a new all-time high) after Q3 earnings. However, last night’s close fell below the low of the doji mentioned earlier, indicating weakening momentum at this point.

1. Trend: The uptrend remains intact with higher highs and higher lows, reflecting overall bullish momentum.

2. Key Levels: Support: $131–$133 (previous resistance turned support). Resistance: $141–$142, forming a potential double top.

3. Chart Pattern: The double top suggests possible trend exhaustion, with $131 as a critical support to hold.

4. Outlook:Bullish: Holding $131 and breaking $142 can resume the uptrend. Bearish: A breakdown below $131 may lead to a deeper pullback, potentially toward $100.

Conclusion: While the trend is bullish, the double-top pattern signals caution as momentum weakens near resistance. Holding $131 is key for sustaining the uptrend.

– Lower Capital Outlay: Gain cheaper exposure to leading technology companies listed in the U.S. by trading its Daily Leveraged Certificates (DLCs) instead of the underlying stocks.

– No Margin Calls: DLCs do not require margin calls, even if the market moves adversely. The maximum potential loss is limited to the capital invested.