NVDA Analysis: Share Price Rises after Positive Report

FXOpen

Postmarket, NVDA jumped +9% to break the USD 500-per-share psychological level for the first time, supported by strong Q2 data:

→ earnings per share: USD 2.70 (expected USD 2.08);
→ company revenue: USD 13.5 bn (expected USD 11.2 bn);
→ 3Q revenue forecast: USD 16 billion

Nvidia also unveiled a USD 25 billion share buyback plan. Demand for NVDA shares also boosted stock prices of other AI-related tech giants: MSFT, GOOG, AMD.

Bullish arguments:
→ the report showed that interest in the topic of AI remains, and NVDA can be the main beneficiary of this progress. By some estimates, over the next 10 years, companies will spend USD 800 billion building and training their models.
→ the price of NVDA shares exceeded the level of USD 480, which previously served as resistance. Now support can be expected at this level.
→ Also, a gap, which should be formed at the opening of today's session, will certainly be able to provide support.

Bearish arguments:
→ resistance to the growth of the NVDA share price may be provided by the upper limit of the rising channel. It is possible that after the emotions from the strong report subside, there will be a correction — as an option, with a test of the psychological level of USD 500 per share.

Buy and sell stocks of the world's biggest publicly-listed companies with CFDs on FXOpen’s trading platform. Open your FXOpen account now or learn more about trading share CFDs with FXOpen.

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.

Stay ahead of the market!

Subscribe now to our mailing list and receive the latest market news and insights delivered directly to your inbox.

Latest articles

   Weekly Market Wrap With Gary Thomson: GBP/USD, EUR/USD, USD/JPY, XAU/USD, NVDA Stock
Financial Market News

Weekly Market Wrap With Gary Thomson: GBP/USD, EUR/USD, USD/JPY, XAU/USD, NVDA Stock

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights.

  • GBP/USD Hits Four-Month
Analysis of USD/JPY: Was There an Intervention?
Forex Analysis

Analysis of USD/JPY: Was There an Intervention?

Yesterday’s news of slowing inflation in the US sharply weakened the dollar, anticipating the Federal Reserve’s monetary easing. In the first 15 minutes after the data release:

→ EUR/USD rose by approximately 0.45% to the psychological level

What Is a Parabolic Arc Pattern, and How Can You Trade It?
Trader’s Tools

What Is a Parabolic Arc Pattern, and How Can You Trade It?

The parabolic arc pattern is a significant formation in technical analysis, showcasing rapid, exponential price movements that signal significant bullish momentum followed by sharp reversals. This article delves into identifying, trading, and managing the risks associated with parabolic arcs.

Understanding

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.