Computer graphics card maker Nvidia (NASDAQ: NVDA) shares bounced more than 5% after the company announced a 4-for-1 stock split. The split set to go into effect on July 19 but the split will require Nvidia stockholder approval at the company’s annual meeting on June 3.
On the other hand, today the investors and traders will closely monitor the graphic chip maker’s Q1 earnings. The company is set to announce its first-quarter 2021 financial results today, Wednesday, May 26 after the markets close.
The company is expected to post quarterly earnings of $3.28 per share and revenues are expected to be $5.41 billion.
Currently, Nvidia’s share price is up more than 13% so far this year. At the time of writing, the Nvidia stock trading almost 1% higher in the pre-market trading on Wednesday. Technically the overall momentum remains bullish from last week. In the short term, if the bullish momentum continues the next upside level to watch $648.50 (52-week high) and then $670/700. On the flip side, the immediate support at $610 followed by $585.
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