The post Will Nvidia Stock Hit Fresh High After Q3 Earnings? appeared on BitcoinEthereumNews.com.

NVDA stock price rose by 19.23% in November, recovering the losses of the previous month. It took support near $400.00 and reversed upward with a spike in buying volume.  The stock price rose for ten consecutive sessions and displayed a bullish continuation pattern. Nvidia stock price regained the 50 day EMA, indicating that the trend is in the positive.  However, the prices displayed a steep rise over the last few sessions due to which it went far away from the 50 day EMA. So, minor retracement or short term consolidation is expected. Nvidia Corporation scheduled the Q3 earnings for November 21, 2023. Equity analysts predicted an EPS of $3.347 and revenue of $16.107 Billion. Last few earnings reports suggest that earnings are on the rise. Moreover, the company successfully beat the revenue estimates for the last three consecutive quarters.  Therefore, revenue growth will continue and Nvidia may beat the Q3 estimates. If that happens, then NVDA stock price may show a sharp rise and break the $500 mark.  NVDA Stock Price Near Supply Zone; What Next? NVDA stock price is in a strong uptrend and any minor corrections are easily getting bought up. It shows the confidence of investors in the future outlook of the company. Furthermore, the growth of the Artificial Intelligence sector has boosted the momentum in Nvidia shares which is still intact. At present, the Nvidia share price is near the $490.00 which is a supply zone.  Previously, buyers tried multiple times to take control of the supply zone. But they failed and the price fell. This time the scenario looks favorable to the bulls.  Nvidia Stock Price Bullish on Multiple Time Frame Chart  Nvidia stock price is bullish on the daily, weekly and monthly time frames. It seems like investors are waiting for the dip to…

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Filed under: News - @ November 14, 2023 4:26 pm