XM does not provide services to residents of the United States of America.

Technical Analysis – Nvidia stock consolidates ahead of earnings



  • Nvidia hovers around its record high of 745.70

  • Exponential year-to-date rally seems overstretched

  • Stochastics exit but RSI stays in overbought area

Nvidia has been surging since the beginning of the year, posting consecutive all-time highs. However, the price seems to be in a consolidation phase in the past few daily sessions as traders are bracing for the upcoming Q4 earnings report on Wednesday.

Should buying pressures persist, the stock might revisit its all-time high of 745.70 registered on February 12. An upward violation of that zone would send the price to uncharted waters, where the 800.00 psychological mark could curb further advances.

On the flipside, if the price reverses lower, initial support could be found at the 663.00 hurdle. Sliding beneath that floor, the stock may face the 605.00 support zone. Even lower, the November resistance of 505.00 could serve as support in the future.

In brief, Nvidia’s shares have gone parabolic since the beginning of the year, generating a structure of consecutive all-time highs without experiencing even a minor pullback. Therefore, the risk of a correction remains high as the advance seems way overstretched.

Related Assets


Latest News

Tesla Q1 Earnings: Poor deliveries point to disappointing results – Stock Markets

T

J


Will Netflix earnings take the share price closer to its record highs? – Stock Markets

N

Technical Analysis – US 500 reverses towards 123.6% Fibonacci

U

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.