NVDA had emerged from a large trading range, boosting the momentum ahead of the earnings season. With earnings to be published in February, NVDA might enter the “pre-earnings” rally. The estimated earnings-per-share of 4.15 drives momentum trading. AI narrative has been the strongest driving force behind tech stocks so far, and this trend has a chance to continue in 2024.
Technically, the price may retest the $500-505 price area before taking off to $620 and higher.
Technically, the price may retest the $500-505 price area before taking off to $620 and higher.