Nvidia Corporations stock price (NVDA) edged lower in the last session but indicators pointed to a surge in pre-market trading following strong earnings results, which bolstered investor sentiment and the positive outlook for the price.

Technically, the stock still moves within a strong upward trend in the short term alongside the upward trend line, boosted by a surge in trading volumes, while settling above the 50-day SMA, and venting off overbought saturation in the Stochastic, granting the stock more space to extend gains.

We expect the price to rise in upcoming trading as long as the support of $129.00 holds on, targeting the pivotal resistance of $153.00.

Todays price forecast: Bullish