Nvidia Corp. (NVDA) has been soaring since the end of May. The stock price has doubled in less than a year. Unbelievable.
An Action Alerts PLUS holding, Nvidia will report quarterly results on Thursday after the bell and sell-side consensus estimates are for $2.98 billion in revenue and earnings per share of $1.67. I am not a fundamental analyst so I leave that kind of analysis to others, including the Action Alerts PLUS team.
Let's check out the charts and indicators of NVDA.
In the daily bar chart of NVDA, below, we can see that prices have been in a very strong uptrend with few corrections or dips or pullbacks. NVDA is above the rising 50-day moving average line and the rising 200-day moving average line.
The On-Balance-Volume (OBV) line has been strong and rising from the May low and confirms and supports the rising price trend.
The Moving Average Convergence Divergence (MACD) oscillator has spent most of its time since July above the zero line. The oscillator just turned to the upside for a fresh buy signal.