NVDA knocks on record highs as big tech earnings loom

NVIDIA stock (NVDA) is riding a powerful uptrend, testing uncharted highs after breaking free from a consolidation phase. However, a sudden jolt in volatility following such an extended rally suggests that shares are approaching their make-or-break point, with investors recalibrating expectations ahead of earnings reports from the sector's biggest names. 

Bollinger Bands are lighting up like a dashboard warning: the price has entered extreme overbought territory. On April 27, quotes were near the upper limit, a telltale sign of trend strength. Yet, by the closing bell on April 28, the stock had slipped back beneath it. This failure to hold at the upper band is an early whisper of trouble—a technical correction could be just around the corner.

For now, trading volumes continue to support the bullish narrative. Bursts of activity on April 24 and 28 towered above previous weeks' averages. Large green candles formed on surging volume, with barely a hint of a shadow, signaling that deep-pocketed players are at the table and selling pressure near such highs is nowhere to be found. The Chaikin Oscillator echoes the same message. Its positive and rising readings point to an ongoing accumulation phase, with institutional money steadily adding to positions.

Wednesday brings earnings reports from four tech giants: Alphabet (Google), Amazon, Meta Platforms, and Microsoft. Apple will follow suit on Thursday, April 30. Together, these five companies account for about 44% of the entire S&P 500 market cap. The spotlight will be on their AI infrastructure spending plans—those numbers will dictate the demand for NVIDIA chips in the coming months. Hefty investments in data centers by these giants would be rocket fuel for NVIDIA shares. But once the figures are out, the market may slip into a familiar "buy the rumor, sell the news" script.

For those ready to make a move, the trading plan below is your roadmap: 

Wait to sell NVDA until the price hits the $216.00–$218.00 range after positive results are published. Place Take Profit at $205.00. Set Stop Loss at $225.00.

This forecast is valid from April 29 till May 6, 2026.