Nvidia Stock Consolidates Recent Upswing: Is The Chipmaker Headed To All-Time Highs?
Portfolio Pulse from Melanie Schaffer
NVIDIA Corporation (NVDA) stock consolidates after a recent upswing, forming a bull flag pattern on the daily chart ahead of its Q1 2024 earnings report. Analysts expect earnings of 92 cents per share on revenues of $6.52 billion. The stock could rise to a new all-time high of about $350 if the pattern is recognized and breaks up from the flag on higher-than-average volume.
May 22, 2023 | 6:03 pm
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NEGATIVE IMPACT
Micron Technology's products face a ban in China, which may have a negative impact on the company's stock.
China's ban on Micron Technology's products could negatively impact the company's stock as it may lead to reduced sales and revenues. This is important for investors to consider as it may affect the company's overall performance and stock value.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
NVIDIA's stock forms a bull flag pattern ahead of Q1 2024 earnings, potentially reaching a new all-time high of $350 if the pattern breaks up on higher-than-average volume.
The bull flag pattern indicates a potential upward movement for NVIDIA's stock. If the pattern is recognized and breaks up on higher-than-average volume, the stock could rise to a new all-time high of $350. This is important for investors as it signals a potential increase in the stock's value.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100