Nvidia Stock Sees Bullish Momentum Ahead of Earnings

NVIDIA Corporation's stock has been showing bullish momentum ahead of its August earnings report. The daily chart reveals a structurally bullish trend, but momentum is still recovering from a prior pullback.

The daily EMA stack is firmly bullish, with price above all three major EMAs: the EMA20 at $203.34, EMA50 at $203.89, and EMA200 at $192.51. This stacked order confirms the broader uptrend that has carried NVIDIA Corporation stock higher over recent months.

However, the MACD line remains negative at -0.41, below its signal at -0.93. The histogram has turned positive at 0.52, but this combination points to a market climbing out of a recent pullback rather than one running with full conviction.

The hourly chart confirms the bullish bias for NVDA but adds a clear warning: RSI has pushed into overbought territory, signaling that the current leg may be due a pause or shallow pullback.