The expected move for Nvidia (NVDA) on the day of its earnings call on July 3, 2024, is predicted to be approximately 5% in either direction1. This indicates that the stock price is expected to fluctuate by 5% up or down based on the market's reaction to the earnings report.
However, it's important to note that the actual move may vary from the predicted move. The market's reaction to the earnings report will depend on various factors, including the company's financial performance, guidance, and market conditions. While the recent trend and moving averages point to a potential for the stock to move downwards towards the support level, the earnings report could potentially surprise the market with strong financial results, leading to a bullish price movement.
Analysts have set an average price target of $135.81 for Nvidia, with a high forecast of $200 and a low forecast of $152. This suggests that there is a range of potential outcomes for the stock's price, and the earnings report could influence the market's perception of the stock's future performance.
In conclusion, while the recent trend and moving averages point to a potential for the stock to move downwards, the earnings report could potentially lead to a bullish price movement if the financial results exceed market expectations. Investors should closely monitor the report for any indications of future growth and market trends.
7/2/2024 05:46pm
