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Nvidia ticks up as traders watch key moving averages ahead of earnings

The stock and major US indices are trading between their 100-hour and 200-hour moving averages, leaving the near-term technical bias neutral as Nvidia earnings approach.

Reported · Written up by our desk · Indices

Nvidia shares rose on the day after testing their key 100-day moving average, with buyers pushing the stock back higher ahead of its upcoming earnings release, which is scheduled after the close tomorrow, according to Forexlive.

The technical setup remains balanced in the short term, with Nvidia currently trading between its 100-hour and 200-hour moving averages. Forexlive said those levels are likely to help define the next direction as traders position ahead of the report.

Forexlive also noted that broader market gauges such as the S&P 500, Nasdaq Composite, and Nasdaq 100 are trading higher, but each is caught between its respective 100-hour and 200-hour moving averages. The outlet said staying above the lower 200-hour averages and then extending above the 100-hour averages would strengthen the near-term upside bias, while a break below the 200-hour averages would shift advantage to sellers.

Latest closeS&P 500 7,785.76 ▼0.2%|Nasdaq Comp. 26,729.16 ▼0.3%

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