Nvidia (NVDA) continues to churn out the gains, as it blasted to a new all-time high on Monday.
The company reported earnings last week, beating analysts’ expectations and providing a solid forward outlook.
It’s just what the company does best. Even though estimates continue to climb, Nvidia continues to beat consensus expectations.
Earlier this year, the company provided better-than-expected guidance. hen in May, raised that outlook once more before announcing a stock split.
After reporting earnings in May, the stock stagnated despite strong results. Then the stock exploded to new highs.
I only mention this because we saw the same thing this time around. Better-than-expected results were met with a shoulder shrug from the market. A few days later though and here we are at new highs.
So how do we navigate Nvidia from here? Let’s look at the chart.
Trading Nvidia Stock