Nvidia Stock Stumbles Into Q4 Earnings: Can It Defy NVDA Bears?

Nvidia Corp NVDA will be reporting its fourth-quarter earnings on Wednesday. Wall Street expects 84 cents in EPS and $38.05 billion in revenues as the company reports after market hours.

The stock is up 60.11% over the past year, down 8.44% YTD.

Let’s examine the charts for Nvidia stock and how it currently compares to Wall Street estimates.

Nvidia Stock Faces Bearish Momentum Ahead Of Q4 Earnings

Chart created using Benzinga Pro

Nvidia stock, at $129.88, is facing strong bearish momentum, ahead of reporting fourth-quarter earnings. The stock trades below its five-day, 20-day and 50-day exponential moving averages. This indicates continued selling pressure, as short-term trends remain unfavorable.

The eight-day simple moving average (SMA) of $134.85, 20-day SMA of $129.93 and 50-day SMA of $134.03, all suggest a bearish outlook.

However, some technical indicators hint at potential stabilization. Nvidia's 200-day simple moving average at $126.40 signals long-term support, though its Moving Average Convergence Divergence (MACD) indicator at a negative 0.31 supports the bearish signals. With a Relative Strength Index (RSI) of 46.78, the stock trades in the neutral territory but has yet to reach a critical reversal zone.

Investors should watch for a break above key moving averages to confirm a bullish reversal or further declines reinforcing the current downtrend.

Nvidia Analysts See 52% Upside

Ratings & Consensus Estimates: The consensus analyst rating on Nvidia stock stands at a Buy currently with a price target of $172.28. The latest analyst ratings from Rosenblatt, Morgan Stanley and Tigress Financial imply a 52.26% upside for Nvidia stock, with an average price target of $197.33.

NVDA Price Action: Nvidia stock closed Tuesday’s trading day at $126.63, down 2.8%.

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