Nvidia Stock Hurdles Buy Zone After Crushing Earnings Expectations

Nvidia's stock price has hit a key buy zone after reporting its quarterly earnings. The company beat analyst expectations, and this has sent investors scrambling to find out what it means for the stock.

The key number here is the stock's Relative Strength Rating (RS), which measures its performance against other stocks in the market. According to Investor's Business Daily, Nvidia's RS rating has reached 97, indicating that the stock has been beating the S&P 500 by a wide margin over the past year.

Nvidia's quarterly earnings report showed that the company had beaten analyst expectations, with revenue coming in at $8.29 billion and EPS at $3.37. This is higher than the estimated $7.88 billion and $2.90 EPS analysts were expecting.