Nvidia Shares Maintain Bearish Bias Near $170

[kevin1]

Over the past three trading sessions, Nvidia’s shares have posted a sharp decline, accumulating losses of more than 3% in the short term. For now, the emerging selling bias around the stock remains in place, as the market fears a potential overheating of the artificial intelligence industry. Added to this is the anticipation of the company’s results on August 27, which may show difficulties in revenue, mainly due to concerns that sales in China have weakened in recent months amid the intensifying trade war. Earnings per share are expected to come in around $0.94, but uncertainty remains as to whether this figure can hold given possible performance challenges. As long as this uncertainty persists, selling pressure on the stock could remain in the short term.

Uptrend Channel at Risk

Recent sessions have shown a clear shift in the bullish outlook that Nvidia had been sustaining in prior weeks. A significant bearish correction has emerged, halting the advance of the short-term uptrend channel and leading to a breakdown of its lower boundary. As long as selling pressure continues, this previous channel may lose relevance and give way to a broader bearish scenario, provided the bearish bias remains dominant.

Technical Indicators

RSI: the RSI line has begun to show a downward slope, now approaching the neutral 50 level. If it breaks below this threshold, selling momentum could become dominant in the short term, paving the way for stronger bearish pressure on the chart in the upcoming sessions.

MACD: the MACD histogram is currently moving below the 0 line, reflecting that short-term moving averages have entered a sustained bearish territory. If the histogram continues to decline, selling pressure is likely to strengthen further in the short term.

Key Levels to Watch:

$184 – Main Resistance: corresponds to the area of recent highs. A sustained recovery above this level could reactivate a bullish bias and bring back strength to the uptrend channel.

$173 – Near-Term Support: current congestion zone of recent weeks and the most immediate barrier. A sustained move below this level could trigger a stronger bearish bias in the short term.

$162 – Crucial Support: aligned with the 23.6% Fibonacci retracement. A decisive break below this level would confirm a bearish structural shift, opening the door to a new selling trend in the short term.

[Nahid10]

The breakdown of the uptrend channel is a big warning sign here. With RSI heading toward 50 and MACD firmly below zero, momentum is clearly shifting to the sellers. If $173 breaks, $162 becomes the logical target. Until earnings bring clarity, I’d stay cautious on NVDA — short-term downside risk looks real.

[jacson4]

The trade war angle is getting underestimated IMO. Losing access to China as a growth driver while AI hype cools could be a double hit for Nvidia. Investors are nervous for a reason — earnings may show cracks. Even if EPS meets expectations, forward guidance will decide whether $184 is back in play or if we test $162 support.

[emranrx]

Yes, short-term momentum has flipped bearish, but let’s not forget NVDA is still the leader in AI chips with colossal demand for Blackwell Ultra. This correction could just be the market de-risking ahead of earnings. If results beat and guidance stays strong, reclaiming $184 resistance would quickly shift sentiment back to bullish.

[kelson10]

From a pure chart perspective, the $173 support is everything right now. Hold it → consolidation with a chance to retest $184. Lose it → we’re heading for $162 fast. RSI + MACD both support the bearish momentum, so watch those levels closely. Risk management is key in this setup.