Youtube: DAX & CL Trades – Wednesday 16th October

NVIDIA (NVDA) reports earnings after the closing bell today. Daily and lower time frame cycles support our EW count suggesting that the stock still has higher levels to be seen before a larger correction although the longer time frame Weekly Cycles & Signals are flashing warnings.

The stock has seen a strong move up off the recent swing low at $84.00 and its currently trading @ $135.53. In this Video we provide a detailed analysis of NVDA looking at RRG’s, EW Structures, Cycles and provide key levels to observe.

The most anticipated earnings of the season are those from NVDA which will be reporting its results 20 minutes after the market closes today.

They are expected to beat analysts estimates with consensus being for $0.74 per share on revenue of $32.81 billion which would represent 81% year on year revenue growth and is around the mid point of the company’s forward guidance provided last quarter.