A Technical Look At NVIDIA

NVIDIA Corporation NVDA shares are trading lower by $1.50 at $117.11 in Thursday's session. The company will report Q4 results after the bell. Street estimates for EPS stand at $0.83 on revenues of $2.11 billion.

The issue was a stellar performer in 2016, moving from $32.96 to $106.74 for a 224 percent gain. The issue has been no slouch in 2017, posting a 9 percent gain based on the current price of $117.11.

The all-time high for issue was made on Tuesday at $120.92 and its all-time closing high was made that same day at $119.13. That level has posed as resistance in the last two sessions, peaking at $119.31 on Wednesday and $119.06 in today's session.

You could take a clue from another issue in the sector that has already reported: Advanced Micro Devices, Inc. AMD. It was rewarded with a nearly a $2 gain from $10.37 to $12.06 the following day. The rally has continued as the issue reached a nine-year high on Tuesday at $14.27 and is currently changing hands at $13.60. The issue received an added boost last week, as it was covered favorably in Barron's.

Keep in mind, based on current and past price appreciation, expectations will be sky-high when Nvidia releases its Q4 report. Going back to Q2 of 2012, the company has an impressive winning streak of 18 quarterly EPS and has only missed on revenues on one occasion.