Nvidia kicked off August near a key technical support level, setting the stage for what could be another record quarter. The stock recently pulled back to its 200-day exponential moving average, hovering around $200, a level that has historically attracted buyers in previous tests throughout 2026.
August has been Nvidia’s best month over the last two decades, with gains about 80% of the time, according to TrendSpider’s analysis. This outperformance surpasses other strong months like May and February, which still show positive returns but less consistently. The timing of this seasonal strength is especially relevant given Nvidia’s upcoming earnings report, which frequently sparks significant price moves when it beats expectations.
Seasonality Meets Technical Strength Ahead of Earnings
After retreating from recent highs, Nvidia’s return to its 200 EMA signals a potential bounce. This level, near $191, has proven to be a reliable floor during broader uptrends and offers a compelling entry point for long-term investors. Despite recent volatility, the stock remains well above its pre-AI boom prices, maintaining a bullish long-term trend.
The next catalyst is the fiscal Q2 2027 earnings report due August 26. Wall Street estimates revenue between $91 billion and $94 billion, with adjusted EPS expected around $2.10. Nvidia’s track record during the AI surge has been impressive, consistently surpassing forecasts thanks to solid demand for Blackwell AI systems and data center products. Analysts anticipate even stronger growth in the second half of the year as supply bottlenecks ease and new Vera Rubin systems roll out.
This material is for informational purposes only and does not constitute financial advice.
