Nvidia Meets Expectations, But Market Reaction Falls Short
Nvidia Meets Expectations, But Market Reaction is Muted
Nvidia delivered results that met expectations, but the market's reaction was underwhelming. This subdued response is in line with what we've seen across the tech sector this earnings season, where even companies that exceed projections face a lukewarm reception. These stocks are highly valued and have seen rapid gains, making it increasingly difficult to exceed investor expectations.
Nasdaq Technical Analysis
The Nasdaq price has stabilized below the pivot line at 19,535, signaling a bearish trend, particularly given the significant bearish volume below this level.
As long as the price remains under 19,535, it is likely to continue declining, potentially reaching 19,185 and, if that level is breached, down to 18,760.
However, a break above 19,535, followed by 19,625, could signal a bullish reversal toward 19,970 and 20,100.
Today's GDP data release is anticipated to have a negative impact on the indices if the figures do not meet expectations.
Key Levels:
Pivot Line: 19535
Resistance Levels: 19625, 19972, 20100
Support Levels: 19290, 19185, 18940
Expected Trading Range for Today: 19625 to 18420
Trend: Bearish, as long as the price remains below 19535.
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