NVDA: Deliver or Disappoint on 28 Aug ?

Star Of The Week.

Like it or not, $NVIDIA Corp(NVDA)$ shares will be in focused this week.

This comes about as the artificial intelligence (AI) favorite prepares to release its highly anticipated earnings report for fiscal Q2 2025 on Wed, 28 Aug 2024.

Investors will be looking out for:

  • Sustained growth in the chipmaker’s data center segment.

  • Updates about its next-generation Blackwell chips following reported delays.

  • Confirmation and details about delays to Nvidia's next-generation Blackwell processors.

The AI darling’s shares, which have surged around +43% from their August 2024 low, have been bolstered in recent weeks by bullish Wall Street coverage and growing earnings forecasts.

Nvidia had in the past, blown expectations for both revenue & earnings in recent quarters. It is under pressure (again!) to deliver another blockbuster quarterly report.

Earnings Forecast.

Below is a sampling of Wall Street’s expectations.

  • Earnings per share (EPS): is forecasted to be $0.65 vs YoY EPS of $0.27. This will be a +240.72% YoY gain. (see below)

  • Revenue: Expected to come in at $28.73 billion vs $13.51 billion (Q2 2024). This will be +212.66% YoY gain.

If and when Nvidia latest earnings meet or exceeds forecast, it will be the 5th straight quarter of triple-digit gains for both eps and revenue.

Last Week’s Performance.

  • Last week, Nvidia stock rose +4.07% to $129.37 per share.

  • Thanks to Friday's +4.55% gain.

  • Shares are trading in a short-term range after a big run from 05 Aug 2024 low of $90.69.

  • NVDA stock has a $140.76 cup-base buy point.

  • Investors could use this past week's highs as a pseudo-handle entry, ideally after Nvidia earnings.

Support & Resistance Levels.

(1) Technical Analysis.

Looking at Nvidia’s data technically,

  • It has an overall consensus of “Buy” rating.

  • However, based on technical analysis consensus, it is a “Sell” rating.

  • Based on its moving average, consensus is a “Strong Buy” rating.

On Fri, 23 Aug 2024 - Fed chairman Mr Powell has officially announced an impending September interest cut is on the card.

Barring any unforeseen circumstances, US market is poised to close higher (with corrections along the way) in the weeks to come until interest rate is announced.

(2) Resistance and Support levels.

Based on Fri, 23 Aug 2024’s closing price of $129.37, below are its resistance and support level.

  • Pivot point 1st Resistance level (high) - $130.91.

  • Pivot point 2nd Resistance level (high) - $132.44.

  • Pivot point 1st Support Point (Low) - $126.53.

  • Pivot point 2nd Support Point (Low) - $123.68.

Sufficient data has been presented to arm Nvidia investors on possible entry and exit points. Above all, reasons to Buy, Sell or Strong Buy. Confident, I am !

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  • Do you think Nvidia will hand in a glowing report card on 28 Aug 2024 ?

  • Do you think Nvidia will recover to its peak of $135.58 (18 Jun 2024), underpinned by a positive sentiments US market ?

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  • console.err
    ·08-26
    TOP

    Will NVIDIA rocket past $140 after its earning report?

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    • JC888
      Hi, tks for reading my post. It may if earnings are above forecasts. If it's reverse, it may falter equally as much... US mkt is cruel when it wants to be
      08-28
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  • Basics101
    ·08-27
    Time will tell!
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    • JC888
      Hi, tks for reading my post and sharing your view. NVDA delivered it's Q2 report cards but mkt didn't like it's Q3 forecasts unfortunately....
      08-30
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  • JC888
    ·08-26
    Hi, tks for reading my post. I make time to write & share.
    Pls "Re-post" so that more get to know. Tks! Rating is important (to me).
    Consider "Follow me" and get first hand read of my Daily new posts? Thanks!). Tks!
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