Nvidia Q3 Earnings Preview: Unprecedented Anticipation
Nvidia (NVDA): Q3 earnings released after New York close on Tuesday 21st November.
Riding the AI Wave to New Heights
Nvidia's upcoming earnings release is poised to be a seismic event in the tech world, and the anticipation is palpable.
The chip maker has been riding the crest of the AI wave, catapulting its share price to stratospheric heights, hitting an all-time high just a day before the earnings report.
Now, all eyes are on the figures: Wall Street analysts expect Nvidia to deliver Q3 earnings-per-share (EPS) of $3.39 and revenue $16.11 billion. These numbers represent an astonishing surge compared to the previous quarter's already impressive growth.
The projected earnings call holds the promise of yet another triumphant performance, but it's a high-stakes game. Nvidia must not only surpass its own sky-high expectations but convince the market that this growth rate is sustainable. Any deviation from these astronomical forecasts or a hint of subdued future guidance could trigger profit-taking.
Technical Outlook
On Nvidia’s daily candle chart (below) the shares have been range bound since August. Having bounced from the bottom of the range at the end of October, the shares are trading at the top of the range as we head into earnings.
A key benefit of trading is that you can remain unbiased and trade what you see – taking a long or a short position in response to how the market reacts.
Bullish Scenario: The Break & Retest
Should Nvidia break higher on a stellar set of earnings this would set the scene for a potential Break & Retest trade in which traders can expect broken resistance to provide support. For more information on the Break & Retest pattern see the link at the bottom of this page.
Bearish Scenario: The Fakeout
Should Nvidia fail to live up to the market’s sky-high expectations and prices break back below resistance, this could setup a potential Fakeout trade in which traders can short the reversal at resistance. For more information on the Fakeout pattern see the link at the bottom of this page.
NVDA Daily Candle Chart:
Past performance is not a reliable indicator of future results
Disclaimer: This is for information and learning purposes only. The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.
https://www.tradingview.com/chart/AUDUSD/Xwf8XXNu-How-to-Trade-The-Break-Retest/
https://www.tradingview.com/chart/AAPL/AeBhXiLA-How-to-Trade-the-Fakeout/
Riding the AI Wave to New Heights
Nvidia's upcoming earnings release is poised to be a seismic event in the tech world, and the anticipation is palpable.
The chip maker has been riding the crest of the AI wave, catapulting its share price to stratospheric heights, hitting an all-time high just a day before the earnings report.
Now, all eyes are on the figures: Wall Street analysts expect Nvidia to deliver Q3 earnings-per-share (EPS) of $3.39 and revenue $16.11 billion. These numbers represent an astonishing surge compared to the previous quarter's already impressive growth.
The projected earnings call holds the promise of yet another triumphant performance, but it's a high-stakes game. Nvidia must not only surpass its own sky-high expectations but convince the market that this growth rate is sustainable. Any deviation from these astronomical forecasts or a hint of subdued future guidance could trigger profit-taking.
Technical Outlook
On Nvidia’s daily candle chart (below) the shares have been range bound since August. Having bounced from the bottom of the range at the end of October, the shares are trading at the top of the range as we head into earnings.
A key benefit of trading is that you can remain unbiased and trade what you see – taking a long or a short position in response to how the market reacts.
Bullish Scenario: The Break & Retest
Should Nvidia break higher on a stellar set of earnings this would set the scene for a potential Break & Retest trade in which traders can expect broken resistance to provide support. For more information on the Break & Retest pattern see the link at the bottom of this page.
Bearish Scenario: The Fakeout
Should Nvidia fail to live up to the market’s sky-high expectations and prices break back below resistance, this could setup a potential Fakeout trade in which traders can short the reversal at resistance. For more information on the Fakeout pattern see the link at the bottom of this page.
NVDA Daily Candle Chart:
Past performance is not a reliable indicator of future results
Disclaimer: This is for information and learning purposes only. The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.
https://www.tradingview.com/chart/AUDUSD/Xwf8XXNu-How-to-Trade-The-Break-Retest/
https://www.tradingview.com/chart/AAPL/AeBhXiLA-How-to-Trade-the-Fakeout/
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