Nvidia (NVDA)
Daily Read — Wednesday 3 June 2026
Current Price
$148
Session Tone
Under Pressure
What Happened Today
Nvidia traded near $148 as the ISM-driven selloff hit growth and AI-related names. NVDA has been the bellwether of the AI trade and remains one of the most closely watched names in the market. Any broad tech selloff tends to hit Nvidia with amplified force given its elevated valuation and the concentration of institutional positioning.
Thursday’s earnings slate — AVGO, CRWD, PANW — will set the tone for AI and semiconductor sentiment. Broadcom in particular has significant AI chip revenue, and its guidance will be interpreted as a read-through for Nvidia’s forward demand. A strong AVGO number could support NVDA; a miss or cautious commentary could accelerate the pressure.
The $145 level is the immediate support that bulls need to defend. A break below it on volume would signal that the AI trade is facing a more substantial de-rating. Above $152, the near-term technical picture improves meaningfully.
Key Levels
| Level | Price | Significance |
|---|---|---|
| Resistance | $155 | Prior week high |
| Pivot | $148 | Current level |
| Support 1 | $145 | Key demand zone |
| Support 2 | $138 | Monthly base |
Current Bias
Thursday’s AVGO earnings are the read-through event that sets NVDA’s near-term direction. No clear edge until that catalyst lands.
What to Watch Tomorrow
- AVGO earnings after hours — the primary AI sector catalyst
- $145 support hold before AVGO lands
- NAS100 broader direction as a correlated sector move
- Any analyst upgrades or downgrades in the semiconductor space
Risk Assessment
High. Around 70% risk environment. Pre-earnings in a risk-off macro backdrop with high valuation creates significant two-way event risk.
This content is for informational purposes only and does not constitute financial advice. Past performance is not indicative of future results. Trading involves risk of loss. Always conduct your own research before making any investment decisions.