{"id":5377,"date":"2024-08-26T09:01:47","date_gmt":"2024-08-26T09:01:47","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&#038;p=5377"},"modified":"2025-05-14T09:24:01","modified_gmt":"2025-05-14T09:24:01","slug":"nvidia-report-aug-2024","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/it\/education\/market-insights\/opening-bell\/nvidia-report-aug-2024\/","title":{"rendered":"Consolidation for Nvidia as Markets Wait For Earnings Report"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/08\/nvidia-exterior-1024x683.jpg\" alt=\"\" class=\"wp-image-5384\" srcset=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/08\/nvidia-exterior-1024x683.jpg 1024w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/08\/nvidia-exterior-300x200.jpg 300w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/08\/nvidia-exterior-768x512.jpg 768w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/08\/nvidia-exterior-1536x1024.jpg 1536w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/08\/nvidia-exterior-2048x1365.jpg 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/ws\/nvidia-announces-financial-results-for-first-quarter-fiscal-2025\">Nvidia Newsroom<\/a><\/figcaption><\/figure>\n\n\n\n<p>Nvidia\u2019s next earnings report \u2013 Q2 FY2025, is coming out in just 2 days on Wednesday. The entire market is holding its breath to see if the semiconductors industry can once again send the markets soaring &#8211; possibly starting the final late cycle pump before the Fed Pivot.<\/p>\n\n\n\n<a class=\"quick-tip-section\" href=\"https:\/\/alchemymarkets.com\/education\/market-insights\/opening-bell\/powell-speaks-aug-2024\/\u00a0\"><div class=\"tip__destination\"><\/div><span>Quick Tip:<\/span><span>\u00a0<\/span>Fed Pivots are known to lead to large price declines in the market.<\/a>\n\n\n\n<p>Analysts expect NVIDIA to report revenues in the range of $11 billion to $11.3 billion for Q2 FY2025.<\/p>\n\n\n\n<p>This would represent a substantial year-over-year increase, driven by continued demand for AI and data center products. The markets will be watching closely to see if expectations will be met, or even exceeded.<\/p>\n\n\n\n<p><em>Scroll down further to find our analysis on the current price action.<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Previous Report: Nvidia Q1 FY2025 Recap<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"708\" src=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/08\/NVDA-vs-USTEC-vs-US500-OB-24.08.26-1024x708.png\" alt=\"\" class=\"wp-image-5378\" srcset=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/08\/NVDA-vs-USTEC-vs-US500-OB-24.08.26-1024x708.png 1024w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/08\/NVDA-vs-USTEC-vs-US500-OB-24.08.26-300x208.png 300w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/08\/NVDA-vs-USTEC-vs-US500-OB-24.08.26-768x531.png 768w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/08\/NVDA-vs-USTEC-vs-US500-OB-24.08.26-1536x1063.png 1536w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/08\/NVDA-vs-USTEC-vs-US500-OB-24.08.26.png 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Nvidia\u2019s previous Earning Report was released on May 22nd, coming in at a revenue report of $7.19 billion instead of analyst estimates of $6.52 billion.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>This significantly exceeded expectations and led to a 47.46% rally for the Nvidia stock.<\/li>\n\n\n\n<li>Nasdaq 100 and S&amp;P 500 saw a rally of over 13% and 6% respectively.<\/li>\n\n\n\n<li>However, the indices first fell by approximately 2% for one trading week before rallying.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Technical Analysis of NVDA (August 26th, 2024)<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"710\" src=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/08\/NVDA-TA-OB-24.08.26-1024x710.png\" alt=\"\" class=\"wp-image-5380\" srcset=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/08\/NVDA-TA-OB-24.08.26-1024x710.png 1024w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/08\/NVDA-TA-OB-24.08.26-300x208.png 300w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/08\/NVDA-TA-OB-24.08.26-768x532.png 768w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/08\/NVDA-TA-OB-24.08.26-1536x1065.png 1536w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2024\/08\/NVDA-TA-OB-24.08.26.png 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>Current price action: <\/strong>After 10 consecutive days of uptrend, NVIDIA experienced a significant bearish signal with a bearish engulfing candle closing on Thursday, August 22nd, 2024. This was followed by a green inside bar on Friday, suggesting that the market is currently in a state of indecision.<\/p>\n\n\n\n<p><strong>How to interpret: <\/strong>Traders may be possibly waiting for the earnings outcome before committing to a new direction, therefore, the price may consolidate at the $130 region until Wednesday.<\/p>\n\n\n\n<p><strong>Trend direction: <\/strong>NVDA is currently in a macro uptrend, and in a local downtrend. The price is currently finding resistance at the 0.786 Fib retracement, drawn from the recent peak to the recent low. There is a possibility to price in a lower high here.<\/p>\n\n\n\n<p>In the event NVDA does make a preemptive move, here are the key levels to watch.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Support Levels to Watch<\/strong><br>\u2022 Market Gap: $111.00 &#8211; $111.75<br>\u2022 0.5 Fibonacci Retracement: $110.86<br>\u2022 0.618 Fibonacci Retracement: $106.16<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Resistance Levels to Watch<\/strong><br>\u2022 0.786 Fibonacci Retracement: $130.00<br>\u2022 Previous Pivot High: $136.15<br>\u2022 All-Time High: $140.64<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Closing Thoughts<\/strong><\/h2>\n\n\n\n<p>If Nvidia\u2019s Q2 FY2025 meets expectations, or is stronger than expected, I would personally expect Nvidia, Nasdaq 100, and the S&amp;P 500 to make a significant rally and create new highs.<\/p>\n\n\n\n<p><em>The caveat here is that the Nasdaq 100 and S&amp;P 500 could first see a brief price decline, as they did back in May 2024.<\/em><\/p>\n\n\n\n<p>However, if the Q2 FY2025 report on Wednesday is weaker than anticipated, then NVDA, US500, USTEC most likely will experience a price decline.<\/p>\n\n\n\n<p><strong><em>You may also be interested in:<\/em><\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/alchemymarkets.com\/education\/market-insights\/opening-bell\/powell-speaks-aug-2024\/\">To Cut or Not to Cut: Jerome Powell Speech Will Set Market Tone<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/alchemymarkets.com\/education\/market-insights\/weekly-outlook\/monetary-manoeuvres-what-this-weeks-economic-data-could-mean-for-u-s-and-eurozone-rate-cuts\/\">Monetary Manoeuvres: What This Week\u2019s Economic Data Could Mean for U.S. and Eurozone Rate Cuts<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Previously, Nvidia&#8217;s Q1 earnings report sent the S&amp;P 500 and Nasdaq 100 soaring. With the Q2 report expected to draw in even larger revenues, will history repeat once again?<\/p>\n","protected":false},"author":159,"featured_media":5382,"parent":0,"comment_status":"closed","ping_status":"closed","template":"","market_insights_categories":[17],"class_list":["post-5377","market_insights","type-market_insights","status-publish","has-post-thumbnail","hentry","market_insights_categories-opening-bell"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Consolidation for Nvidia as Markets Wait For Earnings Report - Alchemy Markets<\/title>\n<meta name=\"description\" content=\"Will the upcoming Nvidia Q2 FY2025 earnings report boost the stock markets once again? 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