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NVDA trade ideas

Nvidia (NVDA) Shares Fall Despite Strong EarningsNvidia (NVDA) Shares Fall Despite Strong Earnings Yesterday, after the close of the main trading session, Nvidia released its second-quarter earnings report: → Earnings per share: actual = $0.67, expected = $0.647; → Revenue: $30.04 billion, expected = $28.737 billion; → The company also announced a $50 billion share buyback. However, despite the strong results, Nvidia’s share price declined. While the closing price yesterday was above $125, in pre-market trading today, Nvidia's shares are down below $118. The more than 6% drop may be due to: → The company’s future outlook not meeting investor expectations; → Waning bullish sentiment around AI adoption. On 12 August, during a technical analysis of NVDA’s price chart, we noted: → The price was forming an upward channel (indicated in blue); → The $100 level was acting as support. Assuming the bearish momentum from the earnings reaction continues, Nvidia’s shares may open trading today around $115, close to the lower boundary of the current upward channel. New data provides crucial insights for further predictions: → After retreating from the $130 resistance level, the price is likely to form a broad bearish gap around the $120 level, which could act as a future resistance zone. → The median line of the blue channel may then act as resistance, increasing the likelihood of a bearish breakout below the channel’s lower boundary. Meanwhile, analysts remain optimistic. According to a Tipranks survey, 33 out of 36 analysts recommend buying NVDA stock. While the average price target is $150 over the next 12 months, it’s possible that these estimates could be revised downward if bearish sentiment intensifies. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
NASDAQ:NVDA
by FXOpen
1
NVDA TA for 8/29/2024NVIDIA (NVDA) saw a significant drop in its stock price despite reporting strong earnings. The company posted impressive numbers with $30.04 billion in revenue, more than doubling from the previous year, and a net income of $16.6 billion. However, the stock dropped by over 5% in extended trading for a couple of key reasons: Slower Growth Rate: Despite the strong earnings, the rate of growth has begun to slow down. The company's guidance for Q3 revenue is $32.5 billion, which, while still significant, indicates a deceleration compared to previous quarters. Investors had been accustomed to rapid growth due to AI-related demand, and the slower pace raised concerns​. High Expectations: NVIDIA has been a top-performing stock, particularly in the AI space, and expectations were exceedingly high. Even though the company exceeded its own guidance, the market was likely hoping for even more, given the stock's substantial run-up over the past year. Technical Analysis for NVDA Trading Tomorrow Support Levels: The immediate support level lies around $116.92, with a further significant support level at $115.01. If these levels hold, they could serve as good entry points for a long position. Resistance Levels: Resistance is seen around $123.12 and $123.95, which correspond to previous price consolidation zones. Breaking above these levels could indicate a reversal and a potential bullish trend. Price Action: Given the sharp decline, the price may test the $115-$116 support zone. If it holds, a bounce back toward $123 could occur. However, if it breaks below $115, further downside to around $110 or even lower could be seen. Entry/Exit: Long Entry: Consider entering around $116 with a stop loss just below $115, targeting an exit near $123. Short Entry: If the price breaks below $115, consider shorting with a target near $110, setting a stop loss around $118. Directional Prediction Given the current sentiment and technical setup, there's a likelihood of further downside if the broader market also remains weak. However, a bounce is possible if buyers step in at the support levels mentioned. Watch for volume and price action near the support zones to gauge the market's direction.
NASDAQ:NVDA
by BullBearInsights
NVIDIA Potential Downtrend Line Breakout At $130.13 29.08.2024Apply risk management Risk Warning: Trading in CFDs is highly speculative and carries a high level of risk. It is possible to lose all of your invested capital. These products may not be suitable for everyone, and you should ensure that you fully understand the risks taking into consideration your investment objectives, level of experience, personal circumstances as well as personal resources. Speculate only with funds that you can afford to lose. Seek independent advice if necessary. Please refer to our Risk Disclosure. BDSwiss is a trading name of BDS Markets and BDS Ltd. BDS Markets is a company incorporated under the laws of the Republic of Mauritius and is authorized and regulated by the Financial Services Commission of Mauritius ( FSC ) under license number C116016172, address: 6th Floor, Tower 1, Nexteracom Building 72201 Ebene. BDS Ltd is authorized and regulated by the Financial Services Authority Seychelles (FSA) under license number SD047, address: Suite 3, Global Village, Jivan’s Complex, Mont Fleuri, Mahe, Seychelles. Payment transactions are managed by BDS Markets (Registration number: 143350) Disclaimer
NASDAQ:NVDALong
by Stuart_Cowell
Elliott Wave Intraday on NVDA Looking for PullbackShort Term Elliott Wave in NASDAQ:NVDA suggests that pullback to 90.7 ended wave IV. The stock has turned higher in wave V with internal subdivision as a 5 waves impulse. Up from wave IV, wave (1) ended at 109.25 and wave (2) pullback ended at 97.15. The stock has resumed higher as a nest. Up from wave (2), wave 1 ended at 108.3 and pullback in wave 2 ended at 97.52. Up from there, wave ((i)) ended at 109 and wave ((ii)) ended at 101. Wave ((iii)) higher ended at 125, pullback in wave ((iv)) ended at 121.15, and final wave ((v)) ended at 130 which completed wave 3. Pullback in wave 4 ended at 125.8 and final wave 5 ended at 131 which completed wave (3). Stock then pullback in wave (4) towards 123.1 and made another leg higher in wave (5) towards 131.26. This completed wave ((1)) in higher degree. Wave ((2)) pullback is now in progress to correct cycle from 8.5.2024 low in 3, 7, or 11 swing before it resumes higher again. Down from wave ((1)), wave A ended at 124.37 and wave B ended at 129.18. Expect wave C of (W) to end soon, then it should rally in wave (X) before turning lower again in wave (Y) of ((2)). As far as pivot at 90.7 low stays intact, expect dips to find buyers in 3, 7, or 11 swing for further upside.
NASDAQ:NVDA
by Elliottwave-Forecast
1
NVIDIA - Will The Tech Giant Surprise Again?Today is the day: Perhaps the most important company in the world presents its quarterly figures - NVIDIA! In an already volatile market environment, erratic movements are guaranteed. Can NVIDIA meet or even exceed the high expectations? More importantly, how will the share react? Open divergences in the DMI (not shown, as M5) provide us with a clue: This shows a bearish divergence that has not yet been worked off and would be resolved as soon as the NVIDIA share price reaches the level of around USD 118.70. We therefore expect short-term price losses. Although we are taking a bearish stance, it is quite possible that the share price will only reach this level very shortly after the publication of the quarterly figures. Due to the expected high volatility, we refrain from showing a specific setup with SL and TP. *Today = our location is in MEST
NASDAQ:NVDAShort
by Ochlokrat
4
$NVDA Bull Flag Pattern A bull flag bullish pattern appears to be forming, suggesting potential upside momentum. The key question is whether Nvidia will break out following tomorrow's earnings report. If the results exceed expectations, it could serve as the catalyst needed to propel the stock higher, confirming the bull flag and potentially triggering a strong upward move. Traders will be closely watching for a decisive break above recent resistance levels, which could set the stage for further gains. #SPX500 AMEX:SPY NASDAQ:QQQ NASDAQ:NVDA #Nvidia #ES_F #NQ_F
NASDAQ:NVDALong
by AlgoTradeAlert
Option Chain Before Earnings - $NVDA huge CALL skewThis week, keep an eye on NASDAQ:NVDA , which will release its quarterly earnings on Wednesday. Here are this week’s earnings releases implemented by the TanukiTrade Options Overlay indicator for Tradingview: 08/28 Wednesday after market close: NVDA , CRWD , CRM 08/29 Thursday after market close: MRVL The Options Overlay indicates that NVDA's call skew is above 55% at 54DTE, meaning that CALL options are priced 55% higher than PUT options for the binary expected move distance . This suggests that the market is pricing in a strong upward move. The yellow curve represents the binary expected move, while the blue curve shows the 16-delta OTM options. The green rectangle highlights the area where you can potentially profit from the butterfly trade if the earnings report meets bullish market expectations. Upward price levels: 7/8 - 138 8/8 - 150 Downward price levels: 6/8 - 125 5/8 - 112 If you agree with the market’s bullish sentiment, one of the best R:R trades might be a directional NVDA call butterfly. You can buy it for $109 with the nearest Friday expiration, with a maximum (theoretical) profit of nearly $900. It’s worth executing this trade before the earnings announcement. Note that the green dashed line is theoretical; while it's not a traditional trendline according to classic TA, the long-term upward trend is still quite clear Expiry: Aug 30 Legs: 1x140C -2x150C + 1x160C Net debit: ~$100 Max profit: $890
NASDAQ:NVDALong
by TanukiTrade
Nvidia Earnings To Push Markets? Understanding Risk On/OffVarious news reports mention Nvidia earnings as important as US Jobs data. This is because of the enormous market cap of Nvidia and the fact it is continuing to rise within an easing fed (softer landing prospects). It has become somewhat of an indicator for the direction of the US economy. It is a good idea to understand potential Risk On/Off effects. If we see continued growth and confidence via Nvidia earnings it is likely to translate to further Equity rises and safe haven outflows, potential further up moves in oil. Any kind of miss may provide a newer risk off effect and investments moving away from risk and back into safe havens / fixed income. Would not suggest taking any large sizes at all or gambling on results.
NASDAQ:NVDA
by WillSebastian
$NVDA Nvidia -50-75% downside ahead??For every bullish point that the experts bring up as to why markets should continue higher from here, I can give you a bearish point as to why they should correct -20-50%. Unfortunately, political views have influenced "experts" opinions on markets. It's a sign of the times. Will NASDAQ:NVDA Nvidia be the end all be all for the markets? No, it will just impact how markets open on Thursday & then the markets will trade accordingly after that... I know 1 thing for sure, I would not want to own the stock that everyone in the world owns & CNBC has been pumping for the last 2 years straight. The downside here is -50-75% longer term is outweighing the upside potential IMO.
NASDAQ:NVDA
by Robertlesnicki
3
Nvidia Stock Soars On Blowout GuidanceSoaring demand for the chips needed to train the latest wave of generative artificial intelligence systems such as ChatGPT led Nvidia to issue a revenue forecast far ahead of Wall Street expectations, prompting a surge in its stock price in after market trading. The US chipmaker on Wednesday said it expected sales to reach 11bn dollar in the three months to the end of July, more than 50 per cent ahead of the 7.2bn dollar analysts had been expecting and confirming its position as the biggest short-term beneficiary of the AI race that has broken out in the technology industry. The forecast fuelled a 27 per cent leap in Nvidia’s shares, which had already more than doubled since the start of the year, and lifted its stock market value to a record 960 bn dollar. Jensen Huang, chief executive, said the company was “significantly increasing our supply to meet surging demand” for its entire family of data centre chips, including the H100, a product launched this year that was designed to handle the demands of so-called large language models such as OpenAI’s GPT4. The race in the tech industry to develop larger AI models has led some customers to worry privately about a shortage of H100 chips, which only went on sale earlier this year. However, Nvidia’s $4.28bn in sales to data centre customers in its latest quarter topped even the most optimistic analysts’ forecasts, and the company said there had been strong sales of both the H100 and its A100 chips, based on its previous chip architecture. Nvidia’s forecast noted a potential doubling of sales to data centre customers in three months, even though data centre sales were running at an annualised rate of $17bn in the opening quarter of this year. Growth is coming from customers across the board, Kress said, with consumer internet companies, cloud computing providers and enterprise customers all rushing to apply the generative AI to their businesses. The bullish forecast came as Nvidia reported revenue and earnings in its latest quarter, to the end of April, had also topped forecasts, thanks to a jump in sales to data centre customers as demand for AI took off. Revenue reached $7.19bn, up 19 per cent from the preceding three months but down 13 per cent from the year before, as sales of chips for gaming systems dropped. Earnings per share rose 22 per cent from a year before to 82 cents, or $1.09 on the pro forma basis Wall Street judges the company. The consensus view on Wall Street had been for revenue of $6.52bn and pro forma earnings of 92 cents a share. now let's delve into the numbers. Nvidia's different business units did not all perform equally well during the quarter - which can be expected, of course. Nvidia's data center business grossed revenues of $4.3 billion during the first quarter, which represents a new record high. Data center demand is not very cyclical, and companies kept investing in new equipment despite a potential recession being on the horizon. This can be explained by the fact that data centers are mission critical for many companies, so they don't really have a lot of choice when it comes to allocating capital to this space. Strong data center sales also have been seen in the results of other chip companies such as Advanced Micro Devices (AMD). Both Nvidia and AMD also were able to benefit from the weak performance of their competitor Intel (INTC), as Intel has been losing market share in the data center space in recent quarters due to self-inflicted problems and an unconvincing product line-up. Nvidia is a major graphic chip or GPU player and is thus heavily impacted by the performance of related end markets. This includes both cryptocurrency mining and gaming. While some cryptocurrencies can't be mined with GPUs economically, such as Bitcoin, others, such as Ethereum, can be mined with GPUs. Ethereum moved from a proof-of-work model to a proof-of-stake model in the fall of 2022, but some miners still use GPUs for Ethereum mining. Not surprisingly, Nvidia's sales to this end market depend on the price for cryptocurrencies - when cryptocurrencies are expensive, miners are more eager to acquire additional GPUs and they may also be willing to pay high prices for them. During times when cryptocurrencies are less expensive, mining is less profitable, and GPU demand from cryptocurrency miners wanes. This has had an impact on Nvidia's sales in the past and likely played a role in Nvidia's Q1 sales as well. GPU sales have been under pressure in recent quarters due to lower demand by gamers as well. Many that like to play video games upgraded their hardware during the lockdown phase of the pandemic when staying at home meant that consumers had more time for video games. With many gamers having relatively new equipment, demand has declined in the recent past. At the same time, inflation pressures consumers' ability to spend on discretionary goods. On top of that, some consumers prefer to spend their money on experiences over things now as there are no lockdowns or travel restrictions in place any longer. All in all, this has resulted in a difficult macro environment for Nvidia's gaming business. Combined, the headwinds for the gaming market and the cryptocurrency market explain why Nvidia's sales and profits kept declining during the most recent quarter, relative to the results the company was able to generate one year earlier. The strong performance in the data center space was not enough to offset the headwinds Nvidia experienced in other areas. I personally going to take huge profit right now and wait for 250 $ levels
NASDAQ:NVDA
by moonypto
5
NVIDIA Earnings Tonight: Stock Approaches Key ResistanceNVIDIA Technical Analysis and Earnings Overview Technical Analysis: Looking at the daily chart for NVIDIA (NVDA), the stock has been trading within an upward channel, indicating a continued bullish trend. The current price is around $128.30, within a key resistance zone just below $135.63. - Support Levels: Primary Support: $115.11 - This is a significant support level where the stock could potentially find buying interest if the price retraces. Secondary Support: $95.30 - A deeper retracement could see the price testing this level, but it would require a significant shift in market sentiment. - Resistance Levels: Immediate Resistance: $135.63 - The stock is currently testing this resistance level. A breakout above this could lead to further gains. Next Major Resistance: $149.54 - If the stock breaks above the current resistance, the next target could be around this level. The chart suggests that NVIDIA could continue its upward momentum, especially if it breaks above the $135.63 resistance. The shaded area in the chart indicates the price channel, suggesting that the stock could reach the upper boundary of the channel if the bullish momentum continues. Earnings Overview: NVIDIA is scheduled to report its earnings after the U.S. market closes today. This earnings report is highly anticipated due to NVIDIA's pivotal role in the AI and semiconductor industries, both of which are experiencing significant growth. Earnings Expectations: Investors and analysts are looking closely at NVIDIA's performance, especially in the AI sector, which has been a key driver of the company's growth. Any guidance on future earnings, particularly related to AI chip demand, will likely have a significant impact on the stock's movement. Market Reaction: If NVIDIA reports strong earnings and provides optimistic guidance, we could see the stock breaking through the $135.63 resistance and pushing toward the $149.54 level. Conversely, if the earnings disappoint or the guidance is weaker than expected, the stock could pull back to the support levels mentioned earlier. In summary, NVIDIA's technical setup remains bullish, but the upcoming earnings report will be a critical catalyst that could either propel the stock higher or lead to a correction. Traders should watch for the earnings release and the market's reaction closely to determine the next move in the stock.
NASDAQ:NVDALong
by SroshMayi
NVDA - NVIDIA - Today is a decisive day!!! Dear traders, Today is a decisive day for NVIDIA as we will report at the close of the market the quarterly earnings (2Q), technically no reversal signals are reported, we are still in a general uptrend although in the last few weeks a correction has formed (as is normal). Depending on today this correction may end and therefore continue with the upward trend or prolong the correction, and may return to levels around $100 and in the worst case scenario to $75-80. The report of these results will move the needle for technology companies and a large part of the investment funds as they have significant positions in NVIDIA and other highly correlated companies. Best,
NASDAQ:NVDA
by FITINTRADE
PANICK SELLING IS OVERShares of the market of graphics chips for gaming and artificial intelligence have depreciated by17.61% over the course of the past month ,underperforming the computer and technology sectors loss of 11.22% . The upcoming earnings release of NVIDIA will be of great interest to investors. The company's earnings is expected to report EPS of $o.64, up 137.04 % from the prior year quarter. As you can see guys we are trading in a falling wedge upward movement is coming so good luck on those buys
NASDAQ:NVDALong
by ForxTay
5
NVIDIA Potential Uptrend Line Rejection At $131.16 28.08.2024Apply risk management Risk Warning: Trading in CFDs is highly speculative and carries a high level of risk. It is possible to lose all of your invested capital. These products may not be suitable for everyone, and you should ensure that you fully understand the risks taking into consideration your investment objectives, level of experience, personal circumstances as well as personal resources. Speculate only with funds that you can afford to lose. Seek independent advice if necessary. Please refer to our Risk Disclosure. BDSwiss is a trading name of BDS Markets and BDS Ltd. BDS Markets is a company incorporated under the laws of the Republic of Mauritius and is authorized and regulated by the Financial Services Commission of Mauritius ( FSC ) under license number C116016172, address: 6th Floor, Tower 1, Nexteracom Building 72201 Ebene. BDS Ltd is authorized and regulated by the Financial Services Authority Seychelles (FSA) under license number SD047, address: Suite 3, Global Village, Jivan’s Complex, Mont Fleuri, Mahe, Seychelles. Payment transactions are managed by BDS Markets (Registration number: 143350) Disclaimer
NASDAQ:NVDALong
by Stuart_Cowell
Big Day Tomorrow: NVIDIA (NVDA) Price Action and Trading Plan Current Market Context NVIDIA is set to release its earnings report tomorrow, and the anticipation is palpable. The stock has been experiencing significant FOMO (Fear of Missing Out) with heavy call option activity, indicating that traders are betting on a positive earnings surprise. Analysts expect NVIDIA to report robust growth, with an EPS of $0.64 and revenue of $28.6 billion, up from previous quarters. This has created a highly optimistic market sentiment, but also a high bar for NVIDIA to meet or exceed. Technical Analysis Overview NVIDIA is currently trading within a range, with a recent high near $132.50 and strong support around $127.68. The volume profile suggests significant trading activity between these levels, indicating strong interest from both buyers and sellers in this range. The price action has been relatively flat, with the stock consolidating after recent gains, which is typical ahead of a major earnings report. Resistance Levels: The immediate resistance is around $132.50. If the earnings report is as strong as expected or exceeds expectations, NVIDIA could break above this level, with potential targets around $135 to $137.50. Support Levels: The strong support at $127.68 is crucial. A break below this could signal a bearish move, especially if the earnings report disappoints. The next major support would be around $125, with a more significant level at $120. Volume Profile: The volume profile indicates a significant concentration of trading activity around $130, which could act as a pivot point. If the stock moves above this level with high volume, it could confirm a bullish breakout. Price Action Scenarios for Tomorrow Bullish Scenario: Pre-Earnings Rally: If the stock breaks above $132.50 during the trading session tomorrow, we could see a rally towards $135 or even higher, especially if there is positive sentiment leading into the earnings. Post-Earnings Rally: If NVIDIA's earnings beat expectations, the stock could gap up in after-hours trading or in the following session, potentially targeting $137.50 or higher. Bearish Scenario: Pre-Earnings Sell-Off: If there is nervousness in the market or if broader market conditions turn negative, NVIDIA could test the support at $127.68. A break below this level could lead to a move towards $125. Post-Earnings Drop: If NVIDIA fails to meet the high expectations, particularly in its guidance for AI-driven growth, the stock could experience a sharp sell-off. In this case, $125 would be a key level to watch, with a more significant support at $120. Neutral Scenario: Continued Consolidation: If the stock continues to trade within the current range of $127.68 to $132.50, it would suggest that traders are waiting for the earnings report before committing to a direction. Trading Plan Given the potential for volatility, a cautious approach may be warranted: Bullish Position: Consider entering a long position if the stock breaks above $132.50 with strong volume. Set a target of $135 to $137.50, with a stop-loss around $130 to protect against a reversal. Bearish Position: If the stock breaks below $127.68, a short position could be considered, targeting $125 initially, with a stop-loss around $130. Neutral Strategy: If the stock remains range-bound, consider using a straddle or strangle options strategy to capitalize on the post-earnings move, whichever direction it may take. Overall, NVIDIA’s price action tomorrow will largely depend on market sentiment leading into the earnings and the actual results released after the close. Be prepared for potential volatility and adjust your trading plan accordingly. My Thoughts: Bullish Bias: Given NVIDIA's strong position in the AI and GPU markets and the overall positive sentiment, I'm leaning slightly bullish. If the stock breaks above $132.50 tomorrow with strong volume, I believe there could be a solid upward move, possibly targeting $135 to $137.50. Caution on Overextension: However, given the high expectations, there's also a risk of a "sell the news" reaction, where the stock sells off even after good news. The elevated call option activity could also indicate that the market is over-positioned to the upside, which might limit the extent of the rally. Risk Management: It's important to approach tomorrow with a well-defined trading plan and to be prepared for both bullish and bearish scenarios. Given the potential for volatility, having clear entry and exit points, along with stop-losses, will be crucial. In conclusion, while the technicals and market sentiment lean towards a bullish outlook, the high expectations and potential for post-earnings volatility suggest that caution is warranted. Keeping a flexible approach and being prepared for quick adjustments will likely be key to navigating tomorrow's trading session successfully.
NASDAQ:NVDALong
by BullBearInsights
1