Chart of the Day: Can Nvidia Break Free With 'Game Changer' Report?
Earnings results will be scrutinized as expectations are rather high. Here's what the chart is telling us.
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Nvidia (NVDA) earnings and call will be later Wednesday and that could be the driving force for markets to move. I did not say in which direction, but suffice to say if the company has great margins again and guides higher then we could see a blitzkrieg by the bulls to take the indexes up towards all-time highs.
For its part, NVDA is only up about 3% in 2026, a paltry amount compared with other chip names and sectors like retail, discretionary, metals, homebuilder and industrials. But this report might be a game changer as the semiconductor behemoth is likely to talk excitedly about the next new chip innovation.
The stock chart shows modest gains of late, with investors tempering their enthusiasm, as the results could bring some violent swings.
MACD is on a buy signal. While money flow has improved, it is still below the zero line. We could look at this from a glass half full perspective, meaning a good report leaves plenty of room for buyers to step up and purchase more shares (obviously at higher prices and taking the stock up even more).
Momentum is strong, but the price action remains rangebound. At some point that range will break. For the bulls their hope is above $200, which would clear some stubborn resistance. Of course, some follow-through would be necessary to confirm a move.
Get the popcorn out!
We like Nvidia in TheStreet Pro Portfolio and rate it a One, or "buy at anytime."
At the time of publication, TheStreet Pro Portfolio was long NVDA.
