NVDA Weekly Breakdown: The $138 MagnetNVIDIA CorporationBATS:NVDAcrazy_stockThe Setup: NVDA is exhibiting a severe structural breakdown on the weekly timeframe. The price action has decisively sliced through critical horizontal support, confirming a loss of medium-term bullish momentum. Fundamental Catalysts Accelerating the Move: The CEO Resignation Shock: On November 12, 2026, Nvidia announced that Jensen Huang resigned effective immediately. The board appointed CFO Colette Kress as interim CEO while initiating a search for a permanent replacement. This sudden leadership exit injects massive volatility and uncertainty into the stock. Earnings Risk Next Week: Nvidia is scheduled to release its third-quarter earnings on Tuesday, November 17, 2026. The forward-looking guidance on this call will be heavily scrutinized by investors adjusting to the abrupt executive transition. Key Technical Drivers for the $138 Target: Total EMA Surrender: The weekly candle has aggressively broken below the 9, 21, and 50 EMAs, leaving the price with heavy overhead resistance and no immediate dynamic support nearby. Horizontal Support Breakdown: We have a confirmed failure of the upper structural support box. With this floor giving out, the downside path faces minimal structural friction. The 200 EMA Magnet: The most logical downside target is the 200 EMA, currently sitting at the $138 level. Following parabolic runs and sudden fundamental shocks, price naturally gravitates toward this long-term mean reversion line. Trendline Confluence: The macro ascending support line drawn from the ultimate bottom tracks perfectly to intersect with the 200 EMA right at $138, creating a massive zone of technical confluence. The Verdict: The breakdown of the weekly box, combined with the sudden exit of Jensen Huang and the looming uncertainty of the November 17 earnings report, shifts the bias firmly bearish. The $138 confluence zone acts as the ultimate magnet for current price action and the most logical area to look for a macro bottom or to secure profits on short option positions. Disclaimer: The information and technical analysis provided in this post are for educational and informational purposes only and do not constitute financial, investment, or trading advice. Technical analysis is inherently subjective and relies on historical price action, which does not guarantee future results. Trading stocks and options involves a high degree of risk, including the potential loss of capital, especially in the context of high-volatility events like earnings reports and executive transitions. Always conduct your own due diligence (DYOR) and consult with a licensed financial advisor before executing any trades. The author assumes no responsibility for any financial losses incurred as a result of relying on this analysis.