Chart of the day

Where do we stand fundamentally?

NVDA is due to publish earning report today after hours and the revenue and EPS are expected to increase as AI usage and the market is getting more and more traction all over the world. The continuation higher after the pullback earlier in the month is expected.

NVDA is now testing 131 to confirm the breakout and a continuation higher in the fifth wave. We need to see a break above 131 for the upside continuation in the fifth upside wave to happen.

An invalidation level of a fifth wave long-term extension higher and a bullish cycle is 100. As said this extension higher could lead to 170 and 200 target in the medium-term to long-term if we get a confirmed break above 131.

_{Try a long trade entry with a stop loss below 115 to target 170 and higher upon a break above 131.}