Analyst sets date when Nvidia stock will hit $200

Core Viewpoint - An analyst has identified a technical setup in Nvidia's stock chart that suggests a potential rise towards $200, despite a recent pullback to $135.13, which is a nearly 3% decline for the day. Over the past month, Nvidia has gained 24% [1][3]. Financial Performance - Nvidia reported strong Q1 2025 earnings, with adjusted earnings per share of $0.96, surpassing the expected $0.93, and revenue of $44.06 billion, exceeding forecasts of $43.31 billion [3]. - The company's revenue guidance for the upcoming quarter is approximately $8 billion lower than expected due to U.S. export restrictions on H20 chips for China, resulting in a $4.5 billion charge linked to excess inventory and $2.5 billion in lost sales [4]. Technical Analysis - A bullish cup-and-handle pattern has been identified in Nvidia's stock chart, indicating a potential for a strong rally if the pattern unfolds as expected. The current resistance level is at $143.60, while strong support from the 50-day and 200-day moving averages is maintaining the bullish outlook [5][6]. - TradingShot projects a medium-term target of $200 based on a 2.0 Fibonacci extension, with the possibility of this occurring by late September 2025. However, a drop below the 50-day moving average could weaken this bullish outlook [7]. Market Sentiment - Despite a bearish divergence on the Relative Strength Index (RSI) indicating slowing momentum, Wall Street remains optimistic about Nvidia's prospects, with several firms raising their price targets due to strong AI-driven growth, even amidst concerns regarding China [9].