Setting in another top
Will the 9 & 13 signal come in handy yet again? we will soon know.
it has been hovering around the middle of the channel for a few days creating a 9 & 13 sell signal.
Coming into the report, Nvidia stock was up 25% from the May lows and more than 94% from the March lows.
For the quarter ended April 26, the graphics processor company posted revenue of $3.08 billion, up 39% from a year ago, and ahead of the Wall Street analyst consensus estimate of $2.98 billion.
Non-GAAP earnings were $1.80 a share, ahead of the Street at $1.68.
The question is of whether the stock’s rally already accounts for those results and profit taking will be taking place. A retest of the $280-to-$300 area would give longer-term investors a great buying opportunity.
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