A Bullish Nvidia Technical Analysis
From a technical standpoint, Hamilton said the chart looks pretty good, adding that he expects some consolidation between the $588 and $613 levels.
Hamilton is looking for above-average volume and a break above $613 to initiate a trade targeting the previous all-time high of $648.57.
If the stock is able to make new all-time highs, he said the stock could break out toward $720.
Nvidia's Latest Earnings Report: Nvidia reported record quarterly revenue of $5 billion and earnings per-share of $3.10 on Feb. 24.
NVDA Price Action: Nvidia is up 112.68% over a one-year period and 16.54% year-to-date.
Nvidia was up 0.33% to $608.86 at last check Wednesday.
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