NVDA getting ready for the earnings report
All eyes will be on Nvidia NVDA to report its Q1 results next week on Wednesday. The stock is down 12% over the last month, However, it seems that the stock is preparing for a probable trend reversal getting ready for the earnings report.
Prices could hit $590 and $600 respectively.
Nvidia
$NVDA Pullback$NVDA to pull back to the slow-moving average (purple highlighted area), using it as support, then potentially move higher as shown by the bullish Ichimoku cloud. There is clear disequilibrium between the fast and slow-moving averages (base and conversion lines) and price action has already started moving towards the base line at roughly $569.63 and my analysis shows that it will continue to close the gap between the moving averages before a continuation of an uptrend. Thoughts on this analysis?
NVIDIA idea NVIDIA idea
I think we have an interesting moment for this promotion.
For 8 months, the price was in a flat and formed a price range on the daily chart.
There was a breakdown of the resistance level and now we are witnessing its testing, which is a signal to continue moving along the trend.
Nvidia Target UpdateSo after reaching the goals from the last analysis we can analysis what will come next .
Nvidia closed 608$ after touched Ath on 614$ , with a good news about new arm based server and set to beat Q1 sales .
Obv - very good with high volume
W%r & Rsi still have room for more
Ema's are on bullish trend after Ema 20 cross Ema 50
our goals above 615$ set on :
T1 - 620$
T2- 624$
T3- 640$
After big rally like that, we can watch for healthy pullback for long bullish uptrend , so even if the targets will reach before the pullback i take support key points :
S1 - 600$
S2 - 589$
* There is no buy / sell recommendation in the aforesaid ,
$AMD Return to the mean, 20-40% profit over the next quarter.Pretty simple trade setup here, expecting us to return to the middle of this channel quicker than previously, in as little as 20 days, as long at 50 days. Price target $100-$110.
Take profit at $100: 25% gain
Take profit at $110: 37.5% gain
NVDA channel.We see a long-term channel (purple lines). It started in 2016. In October 2018, it was broken. Then the "Diamond" model was formed. And the growth began until March 2020. Then the price of April 2020 pushed off from the support of the "diamond" and took a course sharply up to rejoin the old purple trend.
Today we are near the trend resistance, the peak growth is limited to $620-630 and the stabilization in the range of $605-615 at best. In the worst case, close to the day of the report, the price will draw something similar to the "Double Top" model and, breaking through the "neck" level, will go down to the support of the channel - to $525.
A breakout may be about to happen / NVDAToday we will analyze the current situation of NVDA
- We can see a Massive consolidation that started in September 2020 to Date (160 days)
- From a Technical perspective we can consider it as a Flat Triangle
- The way of trading this structure is waiting for the breakout above it (that's the signal that the pattern is active) where we have the green line
- Stop-loss can be set below the whole structure
- We can use Fibo Extenssions to define the possible target or we can use the higher trendline of the ascending channel (In this case we have a convergence between those levels)
- First fibo extension will be the level we will use to protect our position (risk-free) and we will aim to close our setup on the 2nd fibo extension
- Take into consideration that this type of movements may take 3 to 6 months to be completed (patience is key in this discipline)