Nvidia reports earnings this week. Jay Woods says these are the key levels to watch
Nvidia is reporting its earnings results on Wednesday, and investors should keep an eye on these support and resistance levels for the stock, Jay Woods said.
TL;DR
- Nvidia's earnings report is scheduled for Wednesday.
- Key stock levels to watch for Nvidia are around $235.74 (resistance) and $195 (support).
- Analysts expect Nvidia to report a nearly 100% increase in earnings per share and revenue compared to the previous year.
- Other tech companies reporting earnings this week include CrowdStrike and Salesforce.
- Jay Woods advises caution for Marvell Technology's stock before its earnings report, citing downside risk around $200-$185.
- Investors will also be monitoring the release of Personal Consumption Expenditures (PCE) inflation data and Federal Reserve Chair Kevin Warsh's address at the Jackson Hole Economic Policy Symposium.