Two weeks ago, news from China regarding the AI software DeepSeek made headlines. As the \"AI hype\" was and still is an important price driver for the current bull market, fears of a loss of market share were high, at least for a short time, and led to selling pressure across the entire technology sector. Two weeks later, this already seems like water under the bridge. The Nvidia share has already risen from its low of USD 113.01 at the beginning of the week to USD 129.84 (+14.9%).<\/p>\n\n\n\n
The world's most expensive company with a market capitalization of around USD 3.5 trillion is a heavyweight in the Nasdaq 100 and is likely to remain in focus in the coming weeks. On February 26, Nvidia will publish its quarterly results for Q4 2024. Depending on how the results turn out, this could lead to another strong price reaction and thus also have implications for sentiment in the sector as a whole.<\/p>\n\n\n\n
On the chart, however, Nvidia shares are trading between two important price zones. On the upside, there is resistance at USD 130 - 132, which is generated by the last local highs and lows as well as the daily EMA 20 and the daily EMA 50. On the downside, the next important support lies at around USD 115. There are also local lows here, and the price range is also reinforced by the daily EMA 200 and the weekly EMA 50. A breakout above or below one of these two zones should generate the next important medium-term signal and possibly also have an impact on the price performance of the Nasdaq 100.<\/p>\n\n\n\n The long-term trend of the Nasdaq 100 has not changed much recently. After rising to around 22,000 in December, the index took a breather and has been consolidating sideways since then. The long-term upward momentum still seems unbroken, as can be seen from the fact that the Nasdaq 100 is trading above the weekly EMA 20. This is particularly remarkable when you consider the headlines and media coverage of recent weeks.<\/p>\n\n\n\n The seasonal trend would suggest that we can expect another headwind in February. March to April would then be a very favorable seasonal entry point. However, due to the very strong bull market, seasonal weakness should not be seen as an argument for possible short positions. On the other hand, the seasonal trend can serve as a kind of roadmap to improve the timing of new long positions in the event of a correction.<\/p>\n\n\n\n Even if the correction continues over the next few weeks, the long-term technical outlook would not change. The next important support for the Nasdaq 100 Index is located at around 20,000 - 20,500 points, as you can see on the following weekly chart.<\/p>\n\n\n\n The daily chart also shows that the correction in the Nasdaq 100 is taking place in a sideways or slightly downward sloping consolidation formation. The connection of the last local highs results in a downward trend line, which the index has already bounced off three times in a bearish direction. If the correction continues, the horizontal support area at 20,500 points is clearly visible on the daily chart (price zone marked in green); on the other hand, the important daily EMA 200 runs just a few points below the horizontal support. The weekly EMA 50 and the long-term upward trend line are also likely to rise further in the coming days and weeks and reinforce the support zone. This means that even if the price briefly falls below the horizontal support at 20,500 points, no hasty conclusions should be drawn, as there are further important support levels just a few points below.<\/p>\n\n\n\n![\"Stock](\"https:\/\/www.captrader.com\/wp-content\/uploads\/2025\/02\/2025-02-08-Nvidia-Aktie-Tageschart-1024x649.png\")
Seasonal headwind until March<\/strong><\/h2>\n\n\n\n
![\"Stock](\"https:\/\/www.captrader.com\/wp-content\/uploads\/2025\/02\/2025-02-08-Nasdaq-100-Wochenchart-1024x643.png\")
Consolidation at a high level<\/strong><\/h2>\n\n\n\n
![\"Stock](\"https:\/\/www.captrader.com\/wp-content\/uploads\/2025\/02\/2025-02-08-Nasdaq-100-Tageschart-1024x646.png\")