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2026-07-29 14:41 UTC → 2026-07-30 09:17 UTC ·
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Nvidia stock outlook and market fallout
On July 27, technical analysis of The Nvidia (NVDA) highlighted story that began with mixed signals. The share price hovered just below technical signals on July 27 has now widened into a daily pivot at $207, with the RSI broader market correction. After hovering around 51 and a positive MACD histogram suggesting lingering bullish momentum. However, shorter‑term charts showed the RSI slipping into $207 pivot, the low‑40s shares fell 2.99% on July 29, closing at $191.12 and wiping roughly $238 billion of market value in two days. The drop followed reports that Nvidia is negotiating a negative MACD, pointing to near‑term selling pressure. Key support was identified near $203.80 $250 billion financing guarantee for OpenAI’s U.S. data‑center project, a structure analysts say could inflate AI‑infrastructure demand and resistance around $210.90, while raise credit‑risk concerns. The slump rippled through the longer‑term EMA200 sat near $192.19. Two days later, market‑prediction data added AI‑chip sector, erasing about $1.3 trillion in market capitalization this week. Memory‑chip leaders SK Hynix, Samsung and Micron each lost $170‑$180 billion, while AMD and TSMC shed $110‑$119 billion. Asian markets reacted sharply; South Korea’s Kospi plunged nearly 11% in its worst session in five months, and Korean retail investors faced steep losses after a broader perspective. Traders rapid rally earlier in the year. Asian equity hedge funds that had profited from early AI bets recorded an average 18.6% loss this month – the largest monthly drawdown on record – erasing about 21 percentage points of year‑to‑date gains. Prediction‑market participants on Polymarket assigned still see a 50% chance that Nvidia would will close August above $240, with lower probabilities for higher levels and but now assign a roughly equal chance 52% probability of ending below $200. Analysts remained bullish on the long‑term growth trajectory, forecasting FY 2027 revenue of $388‑$394 billion and FY 2028 revenue $200, reflecting heightened volatility ahead of $542‑$561 billion, driven by AI‑related spending. The stock had recently slipped after failing to break a $213‑$215 resistance zone, settling into a $196.5‑$198 range, with further support near $190‑$191 if that range broke. Upcoming second‑quarter the upcoming FY 2027 earnings in late August were seen as a potential catalyst for the stock’s direction. report.