(Finance) – Trading continues to rise well Nvidia, which moves with a gain of 0.94% on the Nasdaq, awaiting the quarterly results. The market awaits largely positive numbers that justify the enormous revaluation of the stock. According to prevailing expectations, Nvidia is expected to announce a strong increase in profits and revenues to more than triple to $24.8 billion from $7.2 billion last year. EPS is expected at $5.57 versus $1.09 last year.
Comparing the performance of the stock with the FTSE MIBon a weekly basis, we notice that the chipmaker maintains positive relative strength in comparison with the index, demonstrating a greater appreciation by investors compared to the index itself (weekly performance +4.22%, compared to +0.48% of the main index of the Milan Stock Exchange).
Technically, Nvidia it is in a strengthening phase with a resistance area seen at 878 Euro, while the most immediate support can be glimpsed at 858.5. At an operational level, a continuation of the bullish session is expected with resistance seen at 897.5.