NVIDIA stock is trading near 2026 highs in anticipation of strong Q4 report

NVIDIA shares (NVDA) are now hovering around 2026 highs, bolstered by the company’s earnings report for the fourth quarter (Q4), due on February 25 after today’s trading session. The stock closed Tuesday near $192.50, marking its third consecutive day of gains.

On the daily chart, NVDA is currently rallying confidently in the upper half of the widening Bollinger Bands. The price is approaching the $194 resistance level—a threshold quotes have attempted to breach three times this year. A successful breakout could open the door to the channel’s upper limit at $197.13. However, traders should brace for heightened volatility, as widening Bollinger Bands often signal sharp moves ahead of major market events. A significant price reaction is expected following the publication of NVIDIA’s earnings report.

The Chaikin Oscillator remains positive and keeps climbing higher, reflecting a steady uptrend. The indicator’s behavior confirms that the current rally is supported by genuine capital inflows.

Meanwhile, the fundamental picture is building suspense and forcing traders to be cautious. On the one hand, the company has exceeded forecasts for thirteen quarters in a row, setting the stage for another astonishing surge. Moreover, cumulative capital expenditures by major players are estimated at around $650 billion, underscoring robust demand for AI infrastructure and lifting the entire tech sector alongside NVIDIA.

On the other hand, investors are concerned about a potential slowdown in revenue growth, increased competition from custom chips, such as those from AMD and Google's TPU, as well as ongoing challenges related to export restrictions in China.

With NVIDIA shares trading near local highs, any sign of disappointment in the firm’s report—set to be released after Wednesday’s session is closed—could trigger a sharp reversal.

Take a look at the following trading plan:

Entering a position before the report publication carries elevated risks due to heightened volatility. Consider buying NVDA during a correction toward $190.00, triggered by profit-taking after the release, with a bullish scenario in mind. Place the corresponding order at $200.00. Set Stop loss at $185.50.

This forecast remains relevant between February 25 and March 4, 2026.