NBIS: Can the Current Bounce Turn Into Another Rejection?Nebius Group N.V. Class ABATS:NBISDr_Rabbit_Nebius has seen a sharp fall from its October highs, losing nearly 25% from its October 29 closing price. The stock recently dropped towards $113 before buyers pushed it back to the current area. This bounce is worth watching, but I don't see enough on the chart to call it a trend reversal yet. The price is now approaching the previous daily supply zone. This area acted as support earlier, but after the breakdown, it can now act as resistance. I'm looking for a possible short if price moves back into this zone and sellers reject it. The 50 EMA is below the 200 EMA, and both are pointing down. Price is also trading below both averages. This keeps the larger trend weak for now. The setup on my chart I'm looking for a possible short around $149, if price retests the daily supply area and shows rejection. The next major daily support is around $100. A move above $164. would invalidate this setup. I don't expect price to move straight down. The recent bounce shows that buyers are still active, so the reaction around supply is important. Earnings and the AI business Nebius will report its third-quarter results on November 12, before the US market opens. There is a good reason why this stock is worth following beyond the chart. In its Q2 results, Nebius reported revenue of $582.3 million, up 454% year over year. The company is growing quickly as demand for AI computing continues. There is clearly strong demand for AI computing, but building this infrastructure is expensive. That's one thing I'll be checking in the next earnings report: how fast the business is growing and how much it is spending to support that growth. And Nebius is not the only company spending heavily on AI infrastructure. Companies like Anthropic also need huge computing capacity to run and grow their AI services. Anthropic, the company behind Claude, recently made a $3.4 billion deal for gas-powered generators, with 1.7 GW of planned capacity for its data centers. With so much money going into AI, Anthropic's upcoming IPO is another thing worth following. But getting an allocation in a major IPO before it starts trading is not always easy for regular investors. I have used Bitget IPO Prime during the previous SpaceX round, and Anthropic is now the next offering. It gives eligible users another way to apply for IPO-linked exposure, starting from $100. The public round opens on November 10. Allocation depends on the final shares available and total commitments, so a full allocation isn't guaranteed. The planned rANT tokens are linked to the allocated shares but don't provide direct share ownership or voting rights. Coming back to NBIS, the earnings report should give us a better idea of how much of this AI demand is turning into actual business growth. For now, I'm keeping the supply zone in focus and looking for a possible rejection before considering a short.