Nvidia Stock Nears $200—Will the Bulls Push It Higher?

Jakarta, Pintu News – Nvidia’s rally continues to push prices closer to the $200 (IDR 3,354,800) zone, although the company’s earnings valuation ratio continues to shrink on a weekly basis.

Meanwhile, the daily movement structure shows a narrowing flag pattern, which keeps the possibility of a breakout in the spotlight.

NVDA Price Rises While Valuation Ratio Shrinks

Nvidia shares continue to trade near all-time highs on the weekly chart, with prices holding in the $190-$191 range after a strong rally over several months.

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Since the beginning of 2024, NVDA has shown a steady upward trend, scoring higher highs and higher lows, while momentum has been maintained despite occasional corrections. As a result, the overall trend is still strongly upward.

On the other hand, valuation metrics are moving in the opposite direction. Nvidia’s price-to-earnings multiple has been steadily declining from its extreme level in 2023 – when the stock traded at over 150 times earnings – towards the mid-range of around 40 times as shown in the chart.

In other words, the increase in share price exceeds the expansion in valuation, signaling that earnings growth has absorbed most of the valuation pressure. This difference is striking because price strength is maintained despite narrowing valuation ratios, indicating that price movements are supported by fundamentals, not just market sentiment.

NVDA Structure Points to Breakout Attempt Toward Higher Targets

The chart shows an increasingly narrowing structure, which continues to support a potential continuation of the uptrend. NVDA stock is still moving in an uptrend that has been ongoing since mid-2024, where every price drop has been held back by the same ascending support line.

Read also: Nvidia in the Spotlight, Here’s Wall Street’s 2026 NVDA Stock Price Prediction!

As a result, the downward pressure tends to lose strength quickly, and the price is more likely to consolidate rather than break downwards.

On the other hand, there is a downward sloping resistance line that is holding back the latest price increase. Prices continue to press towards this line, signaling that sellers are still actively absorbing demand, but at increasingly higher levels.

This pattern resembles a consolidation phase in an ongoing uptrend, rather than a distribution phase. This characteristic is consistent with the flag pattern, where volatility tapers off before more explosive price movements.

In terms of momentum, the RSI indicator is in a neutral to constructive zone – showing neither extreme overbought nor oversold conditions. This balance gives room for the price to widen if resistance is successfully broken.

If the price breaks the downtrend line decisively, then this structure paves the way for the next level up. The first psychological zone is around $200, with the potential to set a new record high if the trend continues.

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Reference:

• Coinpaper. NVDA Stock Forecast: $200 Zone Becomes Bull Magnet. Accessed on February 4, 2026