From Nasdaq:

NVIDIA Corporation (NASDAQ: NVDA) is down 3% ahead of its fourth-quarter earnings release. In the third quarter, Nvidia beat expectations with EPS of $4.02 on revenues of $18.12 billion. Analysts estimate EPS of $4.53 on revenues of $20.24 billion for the fourth quarter. Cantor Fitzgerald and Rosenblatt analysts maintain positive ratings on Nvidia. Technical analysis shows a neutral outlook for the stock.

Investors interested in Nvidia upside can consider the Spear Alpha ETF (NASDAQ: SPRX), holding Nvidia, AMD, and Snowflake among its top positions. SPRX invests in emerging technology trends for long-term growth. However, holding stocks or options through earnings can be risky. Nvidia’s chart indicates a possible bounce with support at $634.93 and $608.50 and resistance at $696.20 and $746.11.

An inverted hammer candlestick on Wednesday suggests a potential local bottom for Nvidia. The RSI indicates neutral territory for the stock. Bullish traders look for a new all-time high post-earnings, while bearish traders hope for a drop below the 21-day EMA to accelerate downside. Assess risks and consider market trends when trading around earnings.



Read more at Nasdaq: Trading Strategies For Nvidia Stock Before And After Q4 Earnings