Nvidia (NVDA) shares fell Tuesday as CEO Jensen Huang gave a extremely anticipated keynote handle on the AI chipmaker’s GTC convention.

Throughout his two-hour presentation, Huang unveiled the corporate’s roadmap for the following two years, providing updates about its Blackwell and next generation Rubin chips, whereas additionally showcasing innovative AI tech for robotics and telecommunications. Huang additionally introduced a brand new partnership with Normal Motors (GM) to coach AI manufacturing fashions.

The flurry of bulletins wasn’t sufficient to raise investor spirits. Nvidia shares, which had been down about 1% earlier than the CEO began talking, closed the day 3.4% decrease at $115.43. Buyers can be looking out for additional updates from Nvidia because the convention continues within the subsequent few days.

After a number of years of explosive features pushed by insatiable demand for the corporate’s AI choices, Nvidia shares have come underneath stress in early 2025 The inventory is buying and selling down 14% for the reason that begin of the yr amid issues about overspending on AI infrastructure and uncertainty surrounding the Trump administration’s trade policies relating to tariffs and chip exports.

With GTC 2025 underway, let’s take a more in-depth have a look at Nvidia’s weekly chart and use technical analysis to find key value ranges price watching.

Descending Channel Consolidation

Since setting a document excessive in January, Nvidia shares have traded inside a descending channel, doubtlessly present process a consolidation section earlier than resuming their longer-term uptrend.

Extra just lately, the inventory discovered patrons close to the descending channel’s decrease trendline, although price action has remained lackluster since. In the meantime, the relative strength index (RSI) stays beneath the 50 threshold, pointing to weak momentum.

Let’s establish key support and resistance ranges on Nvidia’s chart that buyers could also be monitoring and likewise undertaking an upside price target to trace if the inventory resumes its longer-term transfer increased.

Key Help Ranges to Monitor

A breakdown beneath the descending channel’s decrease trendline might see the shares decline to round $96. This space on the chart would possible present help close to the final yr’s March peak and August trough.

A extra vital drop might see the inventory’s value revisit decrease help on the $76 degree. Buyers might search entry points on this area close to the low of a four-week pullback within the inventory final April. 

Essential Resistance Ranges to Watch

Shopping for from present ranges might propel a transfer as much as round $132, a location that will present overhead resistance close to a horizontal line that hyperlinks a variety of comparable value factors on the chart between final June and February this yr.

The following increased resistance degree to observe sits on the key $150 degree. Buyers who’ve come into the inventory at decrease costs might look to lock in profits on this space close to a sequence of peaks positioned just under the inventory’s document excessive.

Upside Worth Goal to Monitor

To undertaking a possible longer-term upside goal to trace if the inventory resumes its uptrend, buyers can apply bars sample evaluation, which analyzes prior developments to make future value predictions.

When making use of this system to Nvidia’s chart, we take the bars that comprise the trending transfer from October 2023 to March final yr and overlay them from this month’s low. The evaluation speculates a possible upside value goal of round $325 if a comparable transfer performed out. We chosen this prior pattern because it adopted the same consolidation sample on the chart.

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As of the date this text was written, the creator doesn’t personal any of the above securities.