Nvidia stock faces a key level that could make or break where it goes next

Nvidia is definitely one to watch this week. After reporting an absolute blowout last week, the Club name has traded lower. Early Tuesday, it was looking to bounce off Friday's close of $215, before some pressure set in. Why does that matter? We know the fundamentals are as strong as ever at the AI chip powerhouse. A bounce to start the week could swing the technical setup in our favor. A lower close might signal the opposite. Looking at the chart of Nvidia, we have overcome resistance in the $210 to $215 area that was twice rejected by sellers over the past year — once back in October 2025, when the stock topped out at $212.19, and again in late April, when the stock topped out at $216.83 apiece. The stock recently broke through, trading up to an all-time high of $236.54 on May 14, less than a week before earnings. That should have turned the old resistance of $215 into new support, according to the Principle of Polarity in technical analysis. Shortly after hitting a record, though, Nvidia shares were already pulling back and accelerated their decline after the print. The Principle of Polarity holds that support, once broken, becomes resistance. That's what makes the slide to $215 so important, because if that is materially broken to the downside, then the now expected level of support will have broken, and become resistance once again. Then we're right back to those stubborn levels of late April. …