“All eyes are on Nvidia,” said Katie Stockton, founder of Fairlead Strategies, a research firm that provides technical analysis of markets, in a note Monday. The levels to watch for Nvidia’s stock are its 50-day moving average of around $167 and “minor resistance near $184,” she said.

Wall Street awaits its next test with Nvidia due to report its quarterly earnings this week, as Peter Devlin explains.

Prediction: Nvidia stock's post-earnings-release move will largely hinge on news about the H20 chip for China and related Q3 guidance.

AI bellwether Nvidia is slated to report quarterly results after markets close on Wednesday, and traders are prepared for the stock's biggest post-earnings move in more than a year.

Nvidia stock is poised in the low $180s heading into earnings on Wednesday. Wall Street expects $1.01 in adjusted earnings per share (EPS) on revenue of $46.12 billion. A major beat should place $200 in the cards for bulls, which is well below some of the analyst price targets.