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When Is NVDA Likely to Peak?

Written By: ChartChamp

August 29, 2024

Although NVDA has formed a selloff after earnings, I think the price action looks pretty similar to past earnings. Over the past 2 quarters NVDA experienced a post-earnings rally. The first rally lasted roughly 2 weeks and 1 days before peaking. The second rally lasted 4 weeks and 1 day before forming a peak. I will monitor the price action over the next few days to see if we do start to see a third post earnings rally here. Whether there is a rally or not I would be cautious around Sept 6 because that jobs data could shock the market and lead to a selloff. We already observed a similar scare earlier this month when the Sahm’s rule indicator was triggered.

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