Nvidia: what's happening now after the bumper earnings?

Surely no stock on the planet is more talked-about right now than Nvidia (NVDA).

Nvidia stock premarket this morning was still sitting near its all-time high price of $785.75 per share, which it hit yesterday after a bumper earnings call.

As a result of all this, the Nvidia share price has been subject to a lot of noise.

Many investors are wondering if the stock will now correct downwards after reaching such dizzy heights - or is the sky the limit for the heir apparent to the AI revolution?

How to use technical analysis to cut out the noise

For those wanting a simple, headline-free understanding of where a stock price may be headed next, there's nothing like technical analysis.

So, we asked our very own Invezz analyst, Crispus Nyaga, to take a look at the Nvidia stock price... using Renko charts.

What are Renko charts?

Renko charts are a lesser-known Japanese chart style, which gets rid of the candlestick timeframe by categorising a chart into blocks or bricks, each of a set price size which you determine. This leads to a far less 'noisy' and clean reading of stocks subjected to lots of hype.

What Renko charts reveal about the Nvidia stock price

This is what Invezz analyst Crispus Nyaga had to say about Nvidia's Renko chart:

Furthermore, Nyaga has reason to be bullish on Nvidia still:

Other technical analysis on Nvidia

But Nyaga wasn't done with Nvidia yet - there was more that technical analysis could reveal about the mega stock.

Meanwhile, with the Wyckoff Method, Nyaga says that "there are signs that the stock has moved to the mark-up phase of the Wyckoff Method. This phase is characterized by more demand of an asset."

This, too, means a good sign that Nvidia may still have room to push even higher, says Nyaga: