S&P 500 futures rose approximately 0.7%, and Nasdaq futures surged 1%, while Dow Jones futures gained about 60 points on Thursday, as traders reacted positively to Nvidia's quarterly results.
Nvidia's earnings and revenue exceeded estimates due to strong demand for AI chips. Additionally, the company announced an optimistic sales forecast and a 10-for-1 stock split.
Technically:
The price corrected to its support line before pushing up again, continuing its run towards 5360. To maintain the bullish trend, it must stay above 5320. Stability above 5360 would further indicate a move towards 5426. Conversely, breaking below the breakout zone at 5266 would signal a downward trend towards 5226 and 5192.
Pivot Line: 5360
Resistance Levels: 5390, 5423, 5484
Support Levels: 5320, 5281, 5226
Today’s expected trading range is between the support 5281 and the resistance 5423.
previous idea:
Nvidia's earnings and revenue exceeded estimates due to strong demand for AI chips. Additionally, the company announced an optimistic sales forecast and a 10-for-1 stock split.
Technically:
The price corrected to its support line before pushing up again, continuing its run towards 5360. To maintain the bullish trend, it must stay above 5320. Stability above 5360 would further indicate a move towards 5426. Conversely, breaking below the breakout zone at 5266 would signal a downward trend towards 5226 and 5192.
Pivot Line: 5360
Resistance Levels: 5390, 5423, 5484
Support Levels: 5320, 5281, 5226
Today’s expected trading range is between the support 5281 and the resistance 5423.
previous idea:
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