Solid News

Nvidia Lack of Drivers for Growth

9/19/2022 2:41 PM

The price of stocks of the American giant in the field of development of videographic processors Nvidia Corp. continues to trade in a corrective trend, being around the 132.00 mark.

The Joe Biden administration plans to expand the list of rules adopted last month on the supply of semiconductors from the USA to China. The new restrictions will also affect chips transported to Chinese enterprises if they do not receive a license from the US Department of Commerce, which has already sent special instructions to the offices of Nvidia Corp. and AMD Inc. So, the edits have not yet been accepted and are currently being corrected, but only reports about them have caused a sharp decline in the shares of companies in the industry. 

In the last report, which was published at the end of August, Nvidia Corp. reflected a drop in revenue to 6.7B dollars from 8.29b dollars a quarter earlier, and for the current quarter, the results of which will be announced on November 17, the company forecasts an even greater decline to 5.9B dollars. Since the beginning of the year, earnings per share have fallen from 1.32 dollars in Q1 to 0.51 dollars last quarter, and a figure of 0.73 dollars per share is expected for Q3. 

A stable downtrend continues to form on the daily chart of the asset.

Technical indicators have been holding a stable sell signal for a long time: the range of fluctuations of the EMA of the alligator indicator is expanding in the direction of decline, and the histogram of the AO oscillator has confidently consolidated below the transition level.

Support levels: 126.00, 100.00. | Resistance levels: 145.00, 192.00.

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