Watching and Trading Nvidia NVDA for a Potential Recovery
Yesterday Nvidia moved off recent selloff lows, potentially signaling a recovery. Given current market conditions, especially with technology stocks, we are also mindful of a dead cat bounce. We have a starter position in the candidate.
NVDA also announced $9 billion in buybacks.
Nvidia (NVDA) reported 3rd Quarter October 2018 earnings of $1.67 per share on revenue of $3.2 billion. The consensus earnings estimate was $1.73 per share on revenue of $3.2 billion. The Earnings Whisper number was $1.80 per share. Revenue grew 20.7% on a year-over-year basis.
The company said it expects fourth-quarter revenue of $2.65 billion to $2.75 billion. The current consensus revenue estimate is $3.40 billion for the quarter ending January 31, 2019. – Source Earningswhispers
Analysts estimates were revised lower, based on projected earnings.
Nvidia Premarket Price Action
If the stock continues higher today we’ll let the trade ride and tighten our stops. If we start to see premarket price action levels slip after the opening bell we will exit and reassess accordingly.
This is a short-term trade, as we do anticipate there could be more downside.
Join us during our LIVESTREAM broadcast during market hours. Watch, listen and trade from 9:20 AM to 4:15 PM Monday through Friday.
Happy Trading,
Vinny
https://theclosingprint.com/CV_Blog/winning-stock-picks-beat/
Disclaimer: Do your Own Research
Our content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional investment advisor in connection with, or independently research and verify, any information that you find on our Website and wish to rely upon, whether for the purpose of making an investment decision or otherwise. Trades and or positions listed and taken from the watchlist are my own and should not be considered “advise” to enter any particular position or asset.
Investment Warnings
We would like to draw your attention to the following important investment warnings. The value of shares and investments and the income derived from them can go down as well as up; Investors may not get back the amount they invested – losing one’s shirt is a real risk; past performance is not a guide to future performance.
Live Sessions
Live broadcasts are educational in their content. Proper risk management is considered on every trade or asset mentioned.
*** Stocks highlighted are for information purposes only and should not be considered as advice to purchase or to sell mentioned securities.
As always, the use of technical and fundamental analysis is encouraged in order to fine-tune entry and exit points to average seasonal trends.
These mentions are stocks that we may or may not decide to trade as outlined in the watchlist. We always use a stop.