Chipmaking powerhouse Nvidia (NVDA) soared 6.6% in after-hours trading on Wednesday following the release of another historic earnings report. Nevertheless, it spent the entire day giving back its early gains and ended up closing with a minimal increase of 0.10% on Thursday.
Despite the intraday fluctuations, NVDA's overall trend still appears to be bullish when viewed on a line chart. We anticipate that the robust uptrend will eventually be sustained, and we are currently looking for overbought momentum readings and a breakout above the 161.8% Fibonacci extension as confirmations of this trend.
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