Today’s instrument is the NVIDIA Corp. stock traded in Nasdaq exchange under the ticker NVDA.
Image Source: Pixabay
If we look at the NVDA Weekly chart, we can see is been stuck in a channel during the past week, without any notable moves, consolidating and showing signs of stability. It formed the main support base at $295 and has overhead resistance at $306. The closest support level can be found at $298. Its last traded price was $301
NVIDIA Corp. had scheduled a third-quarter earnings announcement today 17/11/2021. If earning expectations are surpassed, we could expect the price to move upwards, towards the $320 price range.
Today we could expect a move upwards near the resistance of $306 possibly further towards $314.
If however, it doesn’t manage to hold above the current price range then a case can be made for moving towards $295.
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