(function() { var didInit = false; function initMunchkin() { if(didInit === false) { didInit = true; Munchkin.init('105-GAR-921'); } } var s = document.createElement('script'); s.type = 'text/javascript'; s.defer = true; s.src = '//munchkin.marketo.net/munchkin.js'; s.onreadystatechange = function() { if (this.readyState == 'complete' || this.readyState == 'loaded') { initMunchkin(); } }; s.onload = initMunchkin; document.getElementsByTagName('head')[0].appendChild(s); })();(function(h,o,t,j,a,r){ h.hj=h.hj||function(){(h.hj.q=h.hj.q||[]).push(arguments)}; h._hjSettings={hjid:1422437,hjsv:6}; a=o.getElementsByTagName('head')[0]; r=o.createElement('script');r.defer=1; r.src=t+h._hjSettings.hjid+j+h._hjSettings.hjsv; a.appendChild(r); })(window,document,'https://static.hotjar.com/c/hotjar-','.js?sv=');

NVIDIA Stock Price Regains Strength, Earnings Report Next

Article background

Aayush Jindal

Key Highlights

  • NVIDIA’s stock price started a fresh increase above the $865 resistance.
  • A connecting bullish trend line is forming with support at $860 on the daily chart.
  • The company is set to report its latest earnings results next week.
  • The bulls could aim for an upside break above the $925 resistance.

Netflix Stock Price Analysis

In the past few days, NVIDIA stock price (NASDAQ: NVDA) saw a steady increase. It broke many hurdles and settled above the $850 level to set the pace for more upsides.

Looking at the daily chart, the price gained strength above the 50% Fib retracement level of the downward move from the $973 swing high to the $750 low. The bulls even pushed the price above the $900 level before the bears appeared.

There was a minor rejection noted near the $920 resistance zone and the 76.4% Fib retracement level of the downward move from the $973 swing high to the $750 low.

If the bulls struggle near $920, NVIDIA’s stock price might start a downside correction. The first major support sits near the $865 level and a connecting bullish trend line on the same chart.

The next key support is at $840, below which there could be a steady decline toward the $750 level. Conversely, the price could start another increase. Immediate resistance could be $920. The next major resistance is $945.

A clear move above the trend line, $945, and then $950 could start a strong bullish wave. In the stated case, the price could surpass $975 and test the $1,000 level in the coming days.

Economic Releases

  • US Consumer Price Index for April 2024 (MoM) – Forecast +0.4%, versus +0.4% previous.
  • US Consumer Price Index for April 2024 (YoY) – Forecast +3.4%, versus +3.5% previous.
  • US Retail Sales for April 2024 (MoM) – Forecast +0.4%, versus +0.7% previous.
Great
Trustpilot
Open a Live accountOpen a Demo account