NVIDIA Stock: Will NVDA Earnings Affect Stock Price In 2023?
NVIDIA stock price is in a bullish momentum making higher high structures for a long time.NVDA stock price currently trading at the level of $460.18 with a drop of -2.43% in the previous trading session. Recently it got a rejection from the upper trendline at a level of 500 with with srong berish marubozu candel.
NVIDIA’s stock price gave an excellent return to its investors throughout the year. Since the beginning of the year, NVIDIA has given a humungous return of 209.86% and it gave a positive return of 98.14% in a span of 6 months. Additionally, the stock maintained its momentum in the previous 3 months by giving 21.45% returns, and last month stock took a pause in its bullish trend and gave -0.01% negative returns to its investors. We can say that NIDA has been a gold mine for its investors in recent years.
When we take a look at the recent Q2 23 Earnings of the company, NVDA reported a revenue of 13.51 Billion with a net income of 6.19 Billion and the profit margin is 45.81%. The Revenue got doubled and net income tripped and the profit margin also doubled when we compared it to Q1’23.
Furthermore, the intraday trading volume was 92.534 Million and the market cap of NVIDIA stock was 1.137 Trillion. The company’s dividend yield is 0.03%. The company has a price-to-earnings ratio of 113.83 with a basic EPS of 4.18. NVIDIA currently has 2.37 Billion floating stocks in the market.
What’s The Analyst Take On NVIDIA Stock?
As per the trading view indicator summary 2 of them indicate a sell signal 9 are on the neutral side and 15 indicate a buy signal. The overall weightage is on the buy side.
According to the 44 analysts, the one-year prediction of NVIDIA stock depicts that stock may reach the maximum value of $1100 which is approximately 139.04% and the minimum value is $392.35 which is -14.74%. However, the average price target is $640.71 above 39.23% of the current price.
Furthermore, 51 analysts gave their rating for 3 months in which the maximum weightage is on the strong buy side.
What Technical Chart Depicts About The NVIDIA Stock Price?
Source: Tradingview
Currently, the NVIDIA stock price is trading in an upward momentum by making higher high structures with a strong bullish momentum above the key moving averages. At the time of writing, the NVDA stock price is trading beyond the 20, 50, 100, and 200 moving averages indicating buyers’ influence on the stock price. EMAs show the trend is in the control of bulls and they are not in the mood to slip this control over the bears.
The MACD indicator is on a bullish trajectory where the MACD line is at 6.44 above the signal line (3.94). However, MACD is neutral and the green histogram indicates positivity in the trend.
The RSI is in a positive trajectory indicating a neutral scenario. However, the RSI line (55.49) is above the 14 SMA line (50.82) showing a weakness in the trend.
Conclusion
NVIDIA stock price is showing the power of bulls supporting the uptrend. However, the price took a pause in a few previous trading sessions and showed nominal weakness in the trend. Most widely used indicators like MACD, RSI, and EMAs show mild weakness in the trend. However, the overall trend is bullish right now.
NVDA Technical Support and Resistance level
Support levels: S1 = 429.59 and S2 = 384.76.
Resistance levels:R1 = 494.00 and R2 = 521.00.
Disclaimer
The research delivered in this article is for informative and educational purposes only. Do not depend on this information as financial, investment, or trading recommendations. Investing and trading involve risk. Please consider your circumstances and risk forbearance before making any investment conclusions.
