NVIDIA Stock Tests Untested Support at $144.78 After 31% Slide

NVIDIA shares have pulled back roughly 31% from a recent high near $240, and chart analyst husseindergham argues the stock now sits above two daily support levels that price has never tested on the weekly, daily, 4H, or 1H charts.

The first of those untested levels sits at $144.78, with a suggested stop-loss at $141.34. A deeper one waits at $118.64, with a stop at $102.28. Each represents a separate setup that should be reassessed if reached, the analyst wrote on TradingView, cautioning that identifying a support zone does not guarantee a reversal.

The chart's reference price stood at $165.44 on the daily timeframe.

What's driving the selloff?

The decline has unfolded alongside post-election concerns about tighter restrictions on AI data-center expansion, according to the analysis. Policy risk around the buildout of AI compute infrastructure is now feeding directly into sentiment on the chipmaker's shares.

Leadership uncertainty has compounded the pressure. The controversy surrounding CEO Jensen Huang and his subsequent resignation have shaken the top of the company, with Colette Kress appointed interim CEO. Those developments, the analyst notes, have weighed further on a stock already under sustained selling pressure.

Why the decline alone doesn't confirm a bottom

"The decline alone does not confirm a bottom," the analyst writes. NVDA remains under selling pressure, which makes price behavior around the untested support levels the key thing to watch.

An untested level, in the analyst's definition, is one that price has not revisited since moving away from it. Checking that history is essential before calling a zone fresh support. The analyst's method works from the highest timeframe down—weekly, then daily, then 4H, then 1H—because the higher timeframes establish the broader structure and important zones, while lower timeframes refine entry and invalidation points.

What does the November 17 earnings report change?

NVIDIA reports earnings on November 17, after the US market closes. Results and guidance will be an important test, with potential for sharp moves and overnight gaps.

That timing matters for anyone watching the $144.78 and $118.64 levels. "With earnings only days away, neither setup should be described as automatically 'low risk'—a gap can carry price beyond a planned stop," the analyst writes. An earnings-driven gap could blow through either stop-loss level before a trader can react.

The setup in brief

• Pullback: roughly 31% from a high near $240
• Reference price: $165.44 on the daily chart
• First untested daily support: $144.78, stop-loss $141.34
• Deeper daily support: $118.64, stop-loss $102.28
• Earnings date: November 17, after the US market close

The analyst's focus now is on how price behaves if and when it reaches those supports rather than on predicting a bottom. With the November 17 report days away and selling pressure still intact, the untested levels at $144.78 and $118.64 will either hold as swing-entry zones or give way to the next leg down. The analysis is for educational purposes only and is not financial advice.