Today’s instrument is the NVIDIA Corp.’s stock traded in NASDAQ exchange under the ticker NVDA.
When we look at the NVDA ‘s chart, we see its fall from the $265 range on the 11th of February to the low of $230 on the 15th of February where there was an immediate bounce back to the $245 intraday. Since then, there was a steady gradual climb and consolidation at the $260 range. NVIDIA Corp. had scheduled a quarterly earnings announcement yesterday 16/02/2022. Earning expectations were surpassed, outperforming both EPS and Revenue projections, but there was no major reaction from the market. It was last found trading at $264.91 with the closest longer-term overhead resistance of $267 and the closest support level at $255.
Today we can expect a move above the $267 resistance level, possibly well into the $275 range.
If however, it doesn’t manage to hold on to the current level then a move below the $255 support can be expected.
(Click on image to enlarge)
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