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Nvidia Corp. Upward Dynamics – in the Future

2/9/2023 3:02 PM

The shares of Nvidia Corp., an American giant in the development of video graphics processors, are moving in a corrective trend at 220.00.

KeyBank analysts believe that the Chinese market, which began to recover after actively lifting quarantine restrictions, will allow the issuer's quotes to strengthen their positions in 2023 up to 220.00. Yesterday, the company announced the next upgrade of the Berzelius supercomputer, which is in Sweden and is used for high-tech diagnosis of diseases. Previously, it used 60 of the world's fastest artificial intelligence systems from Nvidia Corp., and the new update will add 34 more units.

Q4 financial report due on February 22: Revenue is projected to top 5.93B dollars in revenue to 6.01B dollars, and earnings per share (EPS) to be above Q3's figure of 0.58 dollars per share, reaching 0.81 dollars per share.

On the daily chart of the asset, the trading instrument is working out the global head and shoulders reversal pattern, rising towards 255.00.

Technical indicators keep a stable buy signal: the range of fluctuations of the Alligator EMA expands in the direction of growth, and the AO histogram forms rising bars in the buy zone.

Support levels: 213.00, 186.00. | Resistance levels: 229.00, 253.00.

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