See this Nvidia price level as a share according to the earnings report

NVIDIA (NVDA) parts on Wednesday in expanded trade, after the favorite of the AI ​​investor had better achieved results expected as quarterly and achieved a strong view of the booming demand for his advanced AI chips.

The company recorded sales in the fourth quarter of 78% to $ 39.33 billion compared to the previous year, with the company's blackwell chips being made up for almost 30% of net sales in the reporting period. In this front, CFO Colette Kress from Nvidia said that the company expected to significantly increase the turnover of Blackwell chips in the first quarter.

The managers also pointed out that the company's new chips would be used to provide AI software and applications, which expanded the current use of development and training skills.

The Nvidia shares, which have increased almost 4% during today's regular trading sessions, have risen around 67% in the past 12 months until the end of Wednesday. After the publication of the quarterly report and during the telephone conference, the shares fell 1.5% to $ 129.32 in expanded trade between profit and losses.

In the following we take a closer look at the weekly table of Nvidia and apply technical analyzes to point out the most important price levels that are worth observing.

Consolidation before maintaining

After the Nvidia shares were founded in the sliding average of 50 periods in the sliding average of 50 periods the following week, he rose higher in a consolidation phase before the chipmaker's quarterly results.

The relative strength index offers a reading of around 50 to display neutral conditions, while in the past few weeks a falling trading volume indicates that larger market participants have remained marginally marginal before today's report.

Let us identify important support levels and overhead areas that may follow investors.

To observe important support levels

The first support level nearby that can be seen is 130 US dollars. This area, only 1% under the closing course of Wednesday, can close the peak in the table near a trend line that in June, July and August connects with a series of comparable price points on the charts between December and February.

A breakdown under this important technical level could cause a fall to the level of 113 US dollars.

Further sale opens the door for a more important correction to around 96 US dollars, about 27% below the end on Wednesday. Such a decline could lead to investors looking for purchase opportunities near the prominent March Peak, which is closely matching the August sale.

To monitor decisive overhead areas

One step after the income, the shares of the chipmaker were able to visit the decisive level of $ 153. Tactical dealers who have accumulated shares through the recent consolidation phase can search for exit points near the stock of the stock.

Investors can predict a longer -term overhead area to monitor the pattern tool of the bars. When applying the analysis to the NVIDIA diagram, we take over the trend change of the share from October 2023 to March last year and overcome it from this month, which predicts an optimistic goal of around 255 US dollars.

We selected this previous step because after a short consolidation time after the formation of a bullish reduction pattern, it began and provides information on where a new upward trend can be carried out when price action rhymes are managed.

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Until the date on which this article was written, the author has none of the above securities.