As it stands, Nvidia’s GPU Technology Conference scheduled march 18th might just prove a turning point for the company’s stock as investors are looking to CEO Jensen
Huang’s keynote to provide clarity on Nvidia’s future as concerns grow that the AI led growth.
Even though the stock has had a slight bounce, it still is down by 9% in 2024 and currently trades around 120.79, down by 0.71% for the day
Huang’s speech will likely address Nvidia’s Blackwell product line, competition and impact of U.S.-China tensions on chip sales.
Another key concern is Nvidia’s gross margins, which despite strong earnings, have raised questions among investors. Still, analysts are hopeful predicting 57% revenue growth and 52% GAAP EPS growth for FY 2026. However, any sign of slowing AI chip demand could shake market confidence.
Stock Performance and Market Sentiment
Investors’ sentiment has been mixed, as investors willing to put their money on dips returning and the market nearing its recent swing low in 2024.
Nevertheless, wider uncertainty remains a drag on the stock, especially concerning tariffs and the sluggish pace of AI investment. Even so, the company’s last earnings report was above what the wall street expected , but there were worries in how they guided margins.
Despite these factors, Nvidia still remains a key player when it comes to AI driven innovation, a sector which is still in its early stage. The GTC keynote will be fundamental, serving as another potential cloud over Nvidia’s stock in the coming months.
Technical Analysis: Key Levels to Watch
Taking a look at Nvidia’s daily price chart, it can be seen that it is currently facing a resistance around $125, where the selling pressure started.
A break above this level could open suggesting neither strong accumulation nor selling pressure. a door for a rally toward $130. On the downside, $118 serves as immediate support, which seems to align with a key moving average. If this level breaks, a decline toward $115 is likely.
Furthermore, The RSI is near 50, showing a neutral momentum, while the trading volume remains steady, suggesting neither strong accumulation nor selling pressure. The stock’s ability to hold support and break resistance will be crucial in determining its next move post-GTC.
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