As the Nvidia (NVDA) share chart shows, during yesterday’s trading session the price advanced towards a key resistance area around $192.50, where notable peaks were formed in December 2025 and January 2026. The move was supported by several factors that boosted optimism:
→ Comments from company management. Nvidia CEO Jensen Huang stated that rising spending on AI is justified and reflects a long-term growth phase for the industry.
→ Goldman Sachs analyst Jim Schneider expects Nvidia’s fourth-quarter revenue to exceed forecasts and surpass $67 billion, and also anticipates strong sales and profit figures in the first quarter of the 2026 financial year.
On the morning of 4 February, when analysing NVDA price movements, we:
→ updated the long-term ascending channel, which remains intact;
→ noted the proximity of its lower boundary, which had acted as a key support level for many months;
→ suggested that NVDA’s price could stabilise in the lower quarter of the channel.
Since then:
→ between 4 and 6 February, the price moved sideways near the lower boundary of the channel, reflecting a balance between supply and demand;
→ following a false break below the December low, the share price staged a sharp rebound, signalling the dominance of buying pressure.
It is reasonable to assume that:
→ the initiative is currently on the side of the bulls, who appear determined to resume the long-term upward trend;
→ if another attempt is made to break through the aforementioned resistance level, it is likely to succeed, opening the way for NVDA shares to move towards the psychological $200 mark.
The realisation of this scenario could be supported by positive sentiment ahead of Nvidia’s earnings release on 25 February and the GTC 2025 conference in mid-March, when new product announcements may be made.
