Nvidia buyback lifts shares, stalls at $232–$234 resistance
The company raised its buyback authorization by $150 billion; the stock spiked but closed below the $232–$234 supply zone.
Mateo Fernandez ·
Nvidia raised its share buyback authorization by a record $150 billion, lifting remaining capacity to $235 billion and briefly pushing the stock to $233.21 on Monday.
Record $150 billion buyback
Market data showed the intraday high met visible supply in the $232–$234 zone, after which the share price eased to a close of $228.86. The move left Monday’s candle in the lower part of its range, which suggests sellers were active at resistance rather than a clear acceptance of higher prices. LSEG data showed the stock trades near 16.5 times forward earnings, the lowest multiple since January 2015.
The company’s filings said it expects to execute the program through fiscal 2028 and that repurchases can be suspended at its discretion, making the authorization a ceiling rather than a binding commitment. On the technical chart the rising line from the September 14 low near $209 remains intact, while the May high of $236.54 is the decisive breakout level to watch.
By October 12, 2026, traders will judge whether buybacks have supported a genuine breakout if Nvidia posts a sustained daily close above $236.54; failure to hold above the $224–$225 area and the rising trendline would point to exhaustion of the spike.