Watch Of The Week: Will Nvdia Save The NASDAQ?
Portfolio Pulse from Thrash Capital
The NASDAQ's critical support level broke last week and has not recovered, with the next areas of support being 14400 and 14250. Nvidia's (NASDAQ:NVDA) earnings announcement on Wednesday could be a deciding factor for the NASDAQ's support level, especially following a 2-3% move in NASDAQ futures this week. Nvidia is currently expecting $11 billion in revenue for this quarter, putting considerable pressure on the company to deliver.
August 21, 2023 | 8:50 pm
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NEUTRAL IMPACT
Nvidia's earnings announcement could be a deciding factor for the NASDAQ's support level. The company is expecting $11 billion in revenue for this quarter, putting considerable pressure on them to deliver.
Nvidia's earnings announcement is expected to have a significant impact on the NASDAQ's support level. If the company meets or exceeds its revenue expectation of $11 billion, it could potentially help the NASDAQ recover. However, if it fails to meet this expectation, it could further weaken the NASDAQ's support level.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100