Nvidia share price is trading near $134.38 in pre-market action on Wednesday, as the chipmaker’s high-flying rally shows signs of pausing just below a key resistance zone. The pullback comes as Nvidia CEO Jensen Huang issues a blunt warning to US regulators, saying current export curbs aimed at China’s AI sector have “backfired” and are now hurting US chipmakers more than their rivals abroad.
In a candid statement, Huang argued that the US needs to rethink its approach to AI competition, calling out Washington’s tightening restrictions as short-sighted. The timing is notable, with Nvidia set to report earnings soon and markets on edge about whether AI-driven demand can still justify the stock’s meteoric run.
Despite the bold remarks, Nvidia shares haven’t moved much in early trade. The pre-market chart shows price action flattening just under the $136.15 level, a familiar resistance that has stalled rallies before. Technical traders are watching closely, especially with RSI tipping above 70 and a fresh MACD bull run already starting to slow.
Nvidia Chart Analysis (Wednesday Pre-Market)
- Pre-market price at $134.38, just below strong resistance at $136.15
- RSI at 70.70 — pushing into overbought zone, warning of short-term fatigue
- MACD remains bullish, but histogram strength is beginning to level off
- Nearest support seen at $130.03, followed by $120.64 if momentum fades
- If price clears $136, next resistance is at $144.46, then $149.57
Outlook: Can Nvidia Break Free or Will Earnings Decide?
There’s no question Nvidia stock has been the poster child for the AI boom. But right now, it’s up against both a chart ceiling and a geopolitical one. Huang’s remarks may have stirred debate, but the market is still focused on the numbers.
If the company delivers a blowout quarter, the technical breakout above $136 could come fast. If not, this may turn into another consolidation phase. Either way, with earnings just around the corner and policy tension building, Nvidia’s next move won’t go unnoticed.
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