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Nvidia stock forecast and earnings preview

Computer graphics card maker Nvidia (NASDAQ: NVDA) is set to announce its last-quarter financial results on Wednesday, May 25, after the markets close. The $NVDA stock is currently supported at $150, and the resistance is around $210.

Nvidia stock forecast and earnings preview

Computer graphics card maker Nvidia (NASDAQ: NVDA) is set to announce its last-quarter financial results on Wednesday, May 25, after the markets close. The company is expected to post quarterly earnings of $1.3 per share and revenues are expected to be $8.12 billion.

In the fourth quarter, Nvidia posted strong financial results helped by performance in its data center and gaming businesses. The Californian-based company generated record revenue of $7.64 billion, up 53% year over year, as earnings per share of $1.18 surged 103%.

Recently Nvidia has announced a Liquid-cooled Graphic card for data centers at Computex 2022, designed for data centers and supercomputers. The card consumes 30% less power than the air-cooled version. "Liquid cooling is the next step in accelerated computing for NVIDIA GPUs that already deliver up to 20x better energy efficiency on AI inference and high-performance computing jobs than CPUs," – Nvidia said.

Nvidia short-term stock forecast

Nvidia shares have lost 40% year-to-date and the stock extended losses on Tuesday currently trading at roughly $162. The $NVDA stock is currently supported at $150, and the resistance is around $210. The stock has been under pressure over the past few months. $NVDA has a 52-week low of $151.76 and a 52-week high of $346.47.

Technically the overall momentum remains bearish after the last few week's sell-off. However, considering the recent strong bearish sentiment if the stock momentum picks up then $185 is the first immediate resistance area to watch, a break above this level will confirm a possible move to $200/10. On the downside, if the bearish momentum continues the next crucial support at $150. In case the price is close below the $150 area the next short-term target will be around $130/25.

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