Technical analysis by CMC Markets about Symbol NVDAX on 9/3/2025

Nvidia shares have fallen by about 6% since the company reported results on 27 August. The stock has now reached an important inflection point, trading in a range between $165 and $170, which is a major area of technical support. If this support is broken, it could see the shares slip towards $150 — a further decline of around 12% from their price of roughly $171 on 2 September. The zone between $165 and $170 has acted as a support region on a few occasions since the gap higher on 15 July. That gap, however, was filled on 22 July, and it is possible that support at $165 has now been exhausted. This would mean that a retest of $165 could lead to the shares falling to their next support level, which is at the previous highs of $150. We have also seen a change in trend for Nvidia, with the stock now trading below a trend line that has been in place since early May. It is also trading below its 20-day moving average, which has started to turn lower. The relative strength index (RSI) confirms this change in trend, as it has also been trending lower. The RSI formed a bearish divergence in late July after climbing above 70, a point at which the RSI began making lower highs while the share price continued to make higher highs. If the stock is able to maintain support between $165 and $170, climb back above the 20-day moving average, and, more importantly, break the downtrend in the RSI, then it is possible that Nvidia could withstand this move lower and contain its losses, with an attempt to make another push towards all-time highs. Outside of that, the road ahead for Nvidia looks challenging. Written by Michael J. Kramer, founder of Mott Capital Management. Disclaimer: CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction, or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.