Stock Of The Day – What Are Important Price Levels For NVIDIA?

Group 1 - NVIDIA shares have experienced a drop of approximately 7% over the past week, with trading activity being quiet on Wednesday [1] - The stock reached a low trade of around $167, which is considered a significant support level, previously established on July 22 [1] - A number of investors who sold at this support level regretted their decision when the stock rallied, leading them to place buy orders when the stock dropped back to this level [2][3] Group 2 - The $183 price level acted as a resistance for NVIDIA, as many investors who bought shares at this price vowed to sell if the stock returned to their buying price [3] - Resistance at the $172.50 level has been established due to previous support on August 22, with many investors regretting their purchases when the stock fell below this level [4][5] - Successful traders can identify these critical price levels, providing insights into potential trend reversals and profit opportunities [5]