Nvidia Recently Hit an All-Time High. What Its Chart Says Ahead of Earnings

$NVIDIA(NVDA)$   plans to report fiscal Q1 earnings this week at a time when shares of elite chip designer and AI king recently hit an all-time high, rising some 40% since setting their 2026 bottom in March. Let's check out the stock's fundamentals and technicals.

Nvidia's Fundamental Analysis

NVDA shed more than 20% between its October 2025 high and its March 2026 low, but then began rebounding in late March and set a $236.54 intraday record on May 14.

The stock hit an all-time high just as Nvidia prepares to release quarterly results after the closing bell on Wednesday, with the Street currently looking for $1.78 in adjusted earnings per share on nearly $79 billion of revenue.

Numbers like that would represent a 119.8% gain in adjusted EPS when compared to the same period last year, as well as more than 78% in y/y revenue growth.

All in, 33 of the 38 sell-side analysts that I know of who track NVDA have revised their earnings estimates higher since the quarter began, while just one has reduced estimates. (Four analysts have made no changes.)

In fact, three sell-side analysts rated at five stars out of a possible five by TipRanks all chimed in positively about the stock just last week.

Christopher Rolland of Susquehanna and Aaron Rakers of Wells Fargo lifted their NVDA price target prices to $315 and $275, respectively, while Atif Malik of Citigroup reiterated his $300 target for the stock. (Nvidia was trading at about $219 on Tuesday morning.)

All three analysts also reiterated their "Buy" ratings on the stock.

Nvidia's Technical Analysis

Now let's look at NVDA's chart going back to its October peak and running through the afternoon of May 12:

We will see that since hitting its late October high, NVDA developed a falling-wedge pattern of bullish reversal marked with beige shading above.

However, the stock has broken out of that pattern ahead of earnings. Since late March, Nvidia has taken back its 21-day Exponential Moving Average (or "EMA," (marked with green line), its 50-day Simple Moving Average (or "SMA," denoted by a blue line) and its 200-day SMA (the red line).

Taking back these lines likely got both portfolio managers and swing traders behind the shares.

With support visible at least at the 21-day line, Nvidia's $217 April 27 high became the stock's apparent pivot – likely helping to spark the stock's current upside leg.

Moving on to the other technical indicators noted above, Nvidia's Relative Strength Index (or "RSI," marked with a gray line at the chart's top) looks positive, but hasn't entered into technically overbought territory so far.

Meanwhile, the stock's daily Moving Average Convergence Divergence indicator (or "MACD," denoted by blue bars, a black line and a gold line at the chart's bottom) is postured quite bullishly.

The histogram of the 9-day EMA (the blue bars) is back above zero, while the 12-day EMA (the black line) has crossed above the 26-day EMA (the gold line). Both of those lines are also well above zero. All of those signals are short- to medium-term bullish.

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