BTIG analyst Jonathan Krinsky says that chipmaker Nvidia (NVDA) may be close to a breakout after months of sideways movement. The stock has risen more than 10% over the past six trading sessions, which is its longest winning streak since October. This comes after a long stretch where shares were mostly flat from September 2025 through the end of last month. Nvidia recently closed around $182, just below the key $185 level that technical traders are watching closely.
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New trading tool for NVDA bearsIf Nvidia can move above $185 and stay there, Krinsky believes that it would be a strong bullish signal. In his view, that would show that investors are ready to step back in and push the stock higher again. Since Nvidia was already in an uptrend before this period of sideways trading, a break above this range would suggest that the uptrend is continuing. The recent rally has also been supported by a broader market move higher, helped by news of a temporary ceasefire between the U.S. and Iran, which reduced concerns about a larger economic shock.
However, other analysts pointed to additional levels to watch. Kingsview’s Buff Dormeier said that the stock may need to move above $200 to confirm a more meaningful breakout. On the downside, levels around $170 are seen as very important support, with $165 also acting as a short-term floor. If Nvidia falls below those levels, it could drop toward $150. Although the stock now looks cheaper at about 20 times forward earnings compared to its historical average of around 36, the direction is still unclear.
What Is a Good Price for NVDA?
Turning to Wall Street, analysts have a Strong Buy consensus rating on Nvidia stock based on 41 Buys, one Hold, and one Sell assigned in the past three months, as indicated by the graphic below. Furthermore, the average Nvidia price target of $273.57 per share implies 49% upside potential.
