NVDA, TSLA and SMCI Price Forecast – Earnings Calls Show Mixed Results

NVDA Technical Analysis

NVIDIA is set to open a little higher, and while we don’t have the earnings call from NVIDIA yet, we will by the end of the day. The earnings estimate is 84.5 cents per share. Revenue is expected to be $38.1 billion. It is worth noting that Nvidia is stuck between the 200-day EMA and the 50-day EMA indicators and a spot that generally is pretty noisy to begin with. So, with that being said, do expect quite a bit of volatility and also recognize that there is a significant uptrend line underneath.

TSLA Technical Analysis

Tesla continues to slide as traders are trying to come to grips with the poor earnings. The problem of course is that we find Tesla sitting right at the 200 day EMA and it does look like it is going to try to bounce into the open. That would not be a huge surprise considering that Tesla has a long history of massive moves in both directions, and just about every time you think the company is going under, it turns around and goes straight up in the air again.

While there aren’t any real signs of that yet, we are at a point where one would have to assume that certain technical traders out there would be interested in maybe having a go at this.

SMCI Technical Analysis

And Super Micro Computer looks like it is going to race higher. That being said, the earnings were a downward surprise, but the revenue was a positive one, and it looks like we could open up $10 higher on the open, which obviously would be a big move in what was previously a $45 stock. If this market can continue higher, the $66 level is an area I’d be watching very closely because that was your last swing high.

At that point in time, trend traders will begin to recognize that Super Microcomputer is in fact in an uptrend. Regardless, this doesn’t look like a stock that you’ll be shorting anytime soon. And it does look like it’s got some volume behind it as well, so this all comes together for what could potentially be a rather strong move to the upside.