NVIDIA Bounces 12% Off $160 Support as Buyers Defend the Level

NVIDIA's stock jumped 12% in a single session after a 39% slide from its early-October levels finally ran into support at $160.

That's the setup laid out by TradingView analyst norbix01 in a chart note titled "NVDA – New All-Time High?" The piece walks through a stock that spent months going nowhere, broke down hard, and then snapped back at the exact level buyers were waiting for.

What happened to the price?

Since November 2025, NVIDIA has traded mostly sideways within a relatively wide range, according to the analysis. The stock showed no significant momentum rally during that stretch — a long consolidation after its earlier run.

The picture darkened in early October. From those levels, the stock declined 39%, a drawdown that eventually carried the price down to the $160 support area. For context, a drop of that size in one of the market's most heavily weighted names is a major event in itself, and it set up the test of support that followed.

Once the price reached $160, buyers stepped in. Yesterday, the stock delivered what norbix01 calls an impressive 12% rally.

Why the negative news didn't stop the bounce?

The rally came despite a backdrop that should, in theory, have kept sellers in control. Negative news has emerged in recent days regarding both the company and its CEO, the analyst notes. Even so, buyers stepped in during the sell-off.

That behavior matters. When a stock absorbs bad headlines and still finds a bid at a key level, it tells you something about the balance of supply and demand. In norbix01's reading, the willingness of buyers to defend the zone suggests the support area could hold.

If it does, the analyst argues, the stock has a path to move higher and potentially retest its all-time high in the near future.

What is a shakeout bar, and why does it matter here?

The second bullish signal in the analysis is the shape of yesterday's move itself. Norbix01 says the strong move resembles what traders call a Shakeout Bar: the price potentially triggered stop-loss orders below the range before reversing sharply and moving back into the range.

The mechanics are straightforward. Traders who had placed protective stops beneath the recent trading range got wiped out as the price briefly broke lower. Then the price reversed and closed back inside the range — a pattern that, in classical technical analysis, often signals that the last batch of sellers has been flushed out and the path of least resistance turns upward.

That reading gives the bounce more weight than a simple relief rally. A shakeout implies the selling was engineered or exhausted rather than the start of a deeper decline.

What's next?

The calendar does the rest of the talking. Earnings are scheduled for the 17th, and that report will decide whether the $160 defense turns into a genuine recovery or just a pause in a larger downtrend. Until then, the analyst's case rests on the level holding: buyers showed up once at $160, and the shakeout pattern suggests they may not be done yet.

By Amara Osei for Business Bearings.