All eyes on Nvidia (NVDA)

In case you haven’t heard…

Nvidia (NVDA) is scheduled to report earnings tomorrow, Wednesday, November 19, 2025, after the close.

Technically, NVDA remains in bullish absolute and relative trends, supported by rising 26- and 40-week moving averages on both the absolute chart and relative to the S&P 500 (SPX). However, the late October–early November bearish engulfing pattern provides an overhang within this uptrend, highlighting the risk of a deeper pullback if key tactical supports fail.

Heading into the earnings print, the important near-term support zone is 182 (rising 13-WMA) down to 179–176 (chart levels). A breakdown through this range would confirm the bearish engulfing pattern, opening risk to 164 (early September low and 38.2% retracement of the April–October rally) and potentially 153–149 (mid-2025 breakout area, rising 40-WMA, and 50% retracement). Importantly, holding either of those downside levels would keep NVDA’s longer-term uptrend intact.

On the daily chart, NVDA has slipped below its 13-, 26-, and 40-day moving averages near 188–193, which now represent overhead pressure on rebounds along with chart resistances near 195 and 200. The bearish engulfing pattern highs sit at 211.34-212.19.

Looking beyond the volatility around earnings, if NVDA can stay above the 150 area, the mid-2025 breakout remains intact and continues to support longer-term upside potential into the 220 area.

Chart 1: Nvidia (NVDA) (top) and relative to the S&P 500 (bottom): Weekly chart

Chart 2: Nvidia (NVDA): Daily chart