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Buyable Gap Up - NVDA

NVDA is looking to gap up above its $1000 mark. At the open, should it remain above its $1000, this is a buy signal. Keep a close eye for any reversals below the $1000 mark on high volume. You could use an intraday chart such as the 6/20. Depending on your risk tolerance, you may set your stop at 1-3% below the $1000 mark. Expect volatility due to some bears trying to paint the tape so should it hit your sell stop then move back above the $1000 mark on volume, consider buying your position back. Depending on your loss and your risk tolerance, you may want to only do this once as you don't want to get nickelled and dimed which can get you "quartered".

  • Earnings Per Share: $6.12 adjusted vs. $5.59 adjusted, per LSEG consensus estimates.
  • Revenue: $26.04 billion vs. $24.65 billion expected by LSEG

Nvidia said it expected sales of $28 billion in the current quarter. Wall Street was anticipating earnings per share of $5.95 on sales of $26.61 billion, according to LSEG. 

Even as the company reports a tripling or more of its business, CEO Huang said that the company’s next-generation AI GPU, called Blackwell, would lead to more growth.

“We will see a lot of Blackwell revenue this year,” the CEO said on a call with analysts, adding the new chip would be in data centers by the fourth quarter.

This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2024 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.
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