Equity markets were very heavy yesterday
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
Nvidia: up for a gain?
Information is not investment advice
What’s happening
Nvidia is reporting its Q1 earnings on May 26 Midnight/May 27 00:00 GMT +3
What’s the expectation
EPS forecast: $2.62
Most observers expect a strong report from Nvidia. The company already disclosed a preliminary estimation of April performance which is said to be upbeat. That is due to a particularly strong videogame industry position.
You can trade NVIDIA in FBS Trader
What’s in the store now
On May 21, Nvidia announced a 4-for-1 stock split. Upon the announcement, the stock price rose some 5%. Currently, it trades under $645 – the all-time high which is likely to get beaten if investors like the earnings data. In this case, the zone above $650 may be the likely target.
However, the upward channel market in the image is very strong: it has been valid for more than half a year by now, and will likely stay so – even if the stock breaks through the upside on a positive earnings report.
What’s the scenario
- Upon a strong report, the stock goes up beating or re-establishing its position around the all-time him of $645.
- Later on, the stock moves down in a correction to possibly meet the 50-MA around $585.
- Eventually, the stock will reverse to the upside continuing the upward channel and possibly aiming at $670 within the horizon of two weeks.
Similar
EURGBP rose on dovish BoE
Ichimoku Kinko Hyo CHF/JPY: The CHF/JPY pair is now testing the upper level of the cloud…
The highlight for markets today will be the FOMC meeting
Ichimoku Kinko Hyo GBP/JPY: The GBP/JPY pair is now trading within the cloud…
Popular
Indices and Stocks in the Red
The stock market has reversed, and now it’s going lower and lower…
Walmart earnings outlook
Walmart is one of the biggest retail corporations in the US, with $244 billion in total assets. Does it worth buying amid rising prices and supply concerns that shatter the world economy?
Japan's inflation is at 2%, but what about a weaker Yen?
Japan's inflation is set to reach 2% in April's reading, for the first time since 2015. But what about the weaker Yen?!
Choose your payment system
