NVIDIA (NVDA): Post-Earnings Battle Between Bulls and BearsIt is getting harder for $NVDA. Nvidia's earnings appear to have produced a muted market reaction for once. The chip maker's blowout quarterly report was good enough to support the stock but not provide another leg to its stunning rally. By any normal measure Nvidia's third-quarter numbers were stunning, as it nearly doubled its revenue from the prior year. However, its guidance wasn't as strong as some analysts had expected. Which is incredibly if you think that doubling its revenue is not enough for Nvidia to surge higher once more. Attention will now turn to the rollout of Nvidia's Blackwell artificial-intelligence chips
Our attention will stay on the chart and we can see this kind of market behaviour in the chart really well. It seems as if bulls and bears are now battling about this earnings report and there are definitely some people trapped with option calls on NVIDIA that they have bought before the earnings.
NASDAQ:NVDA has build somewhat of a trend channel and keeps on defending the lower edge of it very well in the past. The question now is if the wave ((iv)) is already finished or not.
With the fact that NASDAQ:NVDA is loosing momentum on the RSI but still being able to reclaim the VAL and putting in higher highs we think is is very likely that we are seeing some kind of pullback/blowout of those positions that have been opened and trapped at the all time high now. Still NASDAQ:NVDA is a stock that can put in 10% next week and nobody would be astonished. Therefore we are moving our stop loss from our current open position to 114.50$ and setting alerts for a possible buying opportunity again on $NVDA.
