Nvidia is diving towards a 50-day moving average. Is NVDA’s stock market story over before the November 19 results?
Nvidia (NVDA) stock has been under pressure in recent sessions amid a broader sell-off due to macroeconomic uncertainty in high-flying artificial intelligence (AI) names.
Following this decline, NVDA stock appears poised to challenge key support coinciding with its 50-day moving average (MA) at the $186 level.
A break below this price could accelerate the sell-off in the short term. Despite the aforementioned weakness, Nvidia shares remain up more than 100% from their year-to-date lows.
According to Morgan Stanley, the recent pullback in NVDA stock is an opportunity to stock up on a quality name at a discount, especially since the company’s earnings will be released on November 19.
The consensus is for the semiconductor giant to report earnings of $1.17 per share for its third quarter. This would result in a whopping 50% year-over-year increase, which could send AI stock higher.
Options contracts expiring on November 21 are also trending higher, with a put-to-call ratio of 0.51 and an implied move of 6.55%.
That means Nvidia stock could be trading north of $200 again by the end of next week.
Morgan Stanley analyst Joseph Moore recommends buying the dip in NVDA stock primarily because its internal controls signal Blackwell’s rise faster than expected.
He believes supply constraints have improved and the AI ​​darling will report “the strongest results we’ve seen in recent quarters” next Wednesday.
More importantly, the analyst also sees “very strong” demand for Nvidia’s upcoming Rubin platform, which he believes will unlock significant further upside for its stock in 2026.
He said “convex earnings leverage” could drive AI stock to $220 by the end of next year, indicating a potential upside of more than 20% from current levels.
It’s also worth mentioning that Morgan Stanley, despite its upwardly revised price target on Friday, remains among the most conservative firms on Nvidia shares.
The consensus rating on NVDA stock currently sits at a Strong Buy level, with an average target of an even higher level of $234, signaling further upside potential of 27% from here.
