**Nvidia Shares Under Spotlight Ahead of Anticipated Earnings Report**

Nvidia shares will be closely watched as the AI chipmaker prepares to release its highly anticipated earnings report after the market closes on Wednesday. Investors are eager to see if the quarterly revenue growth will align with expectations, particularly indicating that AI spending by major tech hyperscaler customers remains strong.

The stock price has seen some notable movement recently, consolidating within a flag chart pattern that suggests a continuation of the stock's uptrend. Important price levels to observe on Nvidia's chart include key resistance zones around $143 and $150, as well as crucial support levels near $121 and $115.

This earnings report is particularly significant given Nvidia's earlier warning about recording a $5.5 billion charge linked to restrictions on its popular H20 chip imposed by the Trump administration. Investors are also interested in updates regarding the company's sales to China.

Despite being down 2% since the beginning of 2025, Nvidia shares have shown resilience, rallying 52% from their early-April low amid growing optimism around trade deals and encouraging earnings reports from tech giants indicating substantial investments in AI infrastructure.

Technical analysis of Nvidia's chart reveals that the shares trended higher for several weeks after breaking out from a falling wedge pattern. Recently, the price has consolidated within a flag pattern, which indicates a continued uptrend. This dip coincides with the relative strength index dropping below overbought territory, although it remains above neutral, signaling ongoing bullish momentum ahead of the earnings announcement.

For investors closely monitoring Nvidia, key overhead areas worth noting include $143, a level that may pose resistance, particularly near February's peak and a range of trading activity dating back to late October. A breakout beyond this level could test the $150 mark, near a series of peaks formed between November and January.

Conversely, important support levels to watch include $121, which may act as a buffer in case of a breakdown below the flag pattern. Further selling pressure could see the stock dip to around $115, aligning with the 50-day moving average and various chart formations between October and May.

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