Nvidia (NVDA) Will report its third financial quarter results this Wednesday. A loss of $0.7 per share and 15.7% year-to-year decline in revenue expected by Zacks for the quarter. Revenue is driven mainly by the slowdown of gaming segment, disturbed supply-chain and the growing data center business.
On the two-hour chart, the prior support level of $168.33 is a key level to watch, as it may serve as a base for a further bullish run toward the $179.47-173.78 area.
On the other hand, we may see a reversal of the bullish trend since the NVDA share is trading in the oversold level as indicated by the RSI and close to the top edge of the Bollinger Band. If the NVDA share falls below $159.75, it may continue to fall toward the $151.83-149.90 area, with a further bearish target of $145.38-137.60.
On the two-hour chart, the prior support level of $168.33 is a key level to watch, as it may serve as a base for a further bullish run toward the $179.47-173.78 area.
On the other hand, we may see a reversal of the bullish trend since the NVDA share is trading in the oversold level as indicated by the RSI and close to the top edge of the Bollinger Band. If the NVDA share falls below $159.75, it may continue to fall toward the $151.83-149.90 area, with a further bearish target of $145.38-137.60.