Nvidia (NVDA) shares will be in focus ahead of the AI chipmaker's 澳洲幸运5官方开奖结果体彩网:highly anticipated earnings report, due after the market close on Wednesday.

Investors will be monitoring quarterly revenue growth for assurance that AI spending by big tech hyperscaler customers remains robust. Market watchers will also likely look for updates about the company’s sales to China after it warned earlier this year that it would 澳洲幸运5官方开奖结果体彩网:record a $5.5 billion charge due to r♛estrictions on its popular H20 chip after the Trump administration imposed tighter expo🍌rt controls.

Nvidia shares are down 2% since the start of 2025 but have rallied 52% from their early-April trough amid growing 澳洲幸运5官方开奖结果体彩网:trade deal optimism and recent earnings reports from tech giants that forecast significant s🐻pending on AI infrastructure.

Below, we take a closer look at Nvidia’s chart and use 澳洲幸运5官方开奖结果体彩网:technical analysis to pღoint out key price levels worth watching out for.

Flag Pattern Emerges

Nvidia shares trended higher for several weeks after breaking out from a 澳洲幸运5官方开奖结果体彩网:falling wedge. More recently, the price has consolidated within a flag, a chart pattern that indicates a 澳洲幸运5官方开奖结果体彩网:continuation of the stock’s uptrend. 

While the dip has coincided with the 澳洲幸运5官方开奖结果体彩网:relative strength index falling below 澳洲幸运5官方开奖结果体彩网:overbought territory, the indicator remains above the neutral threshold to confirm bullish price momentum ahead of the AI investor favorite's quarterly repor🌊t.

Let’s identify two key overhead areas on Nvidia’s chart worth watching while also locating important support levels to monitor during future 澳洲幸运5官方开奖结果体彩网:pullbacks.

Key Overhead Areas Worth Watching

The first higher area to watch sits around $143. The shares may encounter 澳洲幸运5官方开奖结果体彩网:resistance at this level near February’s prominent 澳洲幸运5官方开奖结果体彩网:swing high, which also aligns with a range of corresponding trading act🎐ivity on th🎃e chart extending back to late October.

Buying above this level could see a test of key overhead resistance at the $150 area. Investors who have 澳洲幸运5官方开奖结果体彩网:accumulated shares at lower prices may look to 澳洲幸运5官方开奖结果体彩网:lock in profits near a series of peaks that formed on the char👍t ꦑbetween November and January. 

This location also sits just below a projected bars pattern target that takes the trending move following the breakout from the falling wedge a🃏nd repositions it from the flag pattern’s lower trendline, speculating how a continuation move may play out.

Important Support Levels to Monitor

A 澳洲幸运5官方开奖结果体彩网:breakdown below the flag pattern could trigger selling to the $121 level. The shares may find support in this region near a 澳洲幸运5官方开奖结果体彩网:horizontal line that connects the March 澳洲幸运5官方开奖结果体彩网:countertrend peaks with last year’s early-September high.

Finally, selling below this level could see Nvidia shares fall to around $115. Investors may seek 澳洲幸运5官方开奖结果体彩网:entry points in this region near the 澳洲幸运5官方开奖结果体彩网:50-day moving average and a range of 澳洲幸运5官方开奖结果体彩网:peaks and troughs that developed on the chart between October and Ma🐻🙈y.

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