NBIS: Struggling at Resistance, Eyes on Key Support Levels

Nebius (NBIS) has made a strong run but is now failing to break through the 200 SMA, a key resistance level that continues to hold. Without a decisive move higher, the stock looks vulnerable to a pullback toward support.

I’m watching S-1 at $38.87 as the first key level. If it breaks, I expect further downside toward S-2 at $34.01. Given the recent price action, I wouldn’t be surprised to see one or both of these levels tested in the near term.

For now, the 200 SMA remains a ceiling. Until buyers step in with conviction, downside risk is in focus. Watching closely.