• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Doug Kass
    • Bruce Kamich
    • Jim Cramer
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • Trifecta Stocks
  1. Home
  2. / Investing
  3. / Stocks

How to Trade Nvidia Ahead of Earnings

The chipmaker is set to report its latest quarterly results Wednesday.
By BRUCE KAMICH
Feb 22, 2021 | 02:18 PM EST
Stocks quotes in this article: NVDA

Nvidia Corp. (NVDA) is ready to report earnings on Wednesday. NVDA shares have been stalled recently and overall the charts are mixed. Let's check them out. 

In the daily bar chart of NVDA, below, we can see that prices broke out on the upside earlier this month -- breaking out a five-month sideways consolidation pattern. The slopes of both the 50-day and 200-day averages are bullish.

The On-Balance-Volume (OBV) line shows a gradual uptrend telling us that buyers of NVDA have been more aggressive. The Moving Average Convergence Divergence (MACD) oscillator is bullish but narrowing. 

 
In the weekly bar chart of NVDA, below, we can see a mixed picture. Prices are in a longer-term uptrend above the rising 40-week moving average line.
 
The weekly OBV line has moved sideways since October and has not made a new high to confirm the new price highs. The MACD oscillator is crossing upwards to a new outright buy signal.  
 
 
In this daily Point and Figure chart of NVDA, below, a bullish upside price target of $778 is being projected.  
 
 
Bottom-line strategy: I am not getting a clear bullish or bearish "read" for NVDA at this point in time ahead of earnings. The major trend is up so I would lean toward an upside breakout.

(Nvidia is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells NVDA? Learn more now.)

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are prohibited from trading individual securities.

TAGS: Investing | Stocks | Technical Analysis | Software & Services | Technology | Technology Hardware & Equipment | Earnings Preview

More from Stocks

Bearish Bets: 2 Nasdaq Stocks You Should Consider Shorting This Week

Bob Lang
Apr 18, 2021 10:30 AM EDT

These names are displaying both quantitative and technical deterioration.

Navigating the Cycles of the Market

James "Rev Shark" DePorre
Apr 17, 2021 10:00 AM EDT

How Recency Bias and the Pareto Principle impact your trading decisions.

Market Indices Continue to Hide Crazy Rotational Action

James "Rev Shark" DePorre
Apr 16, 2021 4:41 PM EDT

Fundamentals and valuations are secondary to shifting money into certain sectors.

Is the Market Wrong on Bank of America? Here's What the Charts Say

Bruce Kamich
Apr 16, 2021 2:21 PM EDT

Let's check in again on BAC after its latest earnings.

Liquid Media Group Is a Hidden Gem

Timothy Collins
Apr 16, 2021 1:33 PM EDT

With the options open, I believe the near-term puts offer an attractive play.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 08:05 AM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    How recency bias and the Pareto Principle impact y...
  • 02:42 PM EDT PAUL PRICE

    Wednesday on Real Money Pro

    Make this stock a 'part' of your portfolio.
  • 04:44 PM EDT PAUL PRICE

    Pretty Incredible + Hard to Believe

  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2021 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login