NVDA is testing key support at $209.66 after hitting resistance at $230.90; a failure here risks a drop to $200.

Let's jump into the charts and mainly take a look at first off Nvidia. No doubt about it, had earnings this week and is definitely a big market mover. It is the biggest stock in the stock market with the highest market cap and look at this decline that is coming a day after this rip-roaring rally and push higher in the markets, guys.

You can see here we closed the day here Wednesday, August 26th down underneath this declining trend line. Then we reported earnings on Nvidia and look at the pop that occurred.

We got as high as $220 or pardon me, $230 and $0.47.

If you see here, I've got a pivot high strung out to these very next pivot highs and we actually kissed this area, this trend line. Didn't actually come in contact, as you can see here on the 10-minute chart just the other day, came very, very close to hitting this level.

Just a little bit of difference. Trend line was up here at $230.90. However, that gave us the insight that this area was going to be resistance at least for the near term.

Now no doubt about it, Nvidia being the biggest market cap helped drag the markets down being down 4.7%.

So where are we going to find support? It's pretty clear to see. We got a gap fill coming up right here just from the day before reporting earnings. Actually, the day of reporting earnings, 209.66.

That's going to come in contact with this declining trend line.

Now, one bad thing about that is that this already has broken out, confirmed the breakout, done a retrace, and since received a bounce. So, if we start flirting with coming down here on the support area and it doesn't hold, that would be a failed breakout, in which case I would see Nvidia make a straight line down here to the bottom of this inclining parallel channel, just about $200 on the chart.

You can see this is an inclining parallel that has captured and contained price since the liberation day lows in April of 2025. Now, we've already hit the bottom into this parallel three times, meaning the next hit will be a 50/50 shot on if it holds or breaks.

So, this is going to be very curious to see in the coming days how and when Nvidia gets into this first price level of support with the gap fill here at $209.66. That corresponds with this declining trend line.

Do we get saved, hold this level, and potentially march higher? That's what we're going to be watching very closely in the coming days, if likely, potentially even next week.