Onward To The Elephant In The Room: NVDA

Good Thursday Morning, MPTraders!  August 28, 2025-- Pre-Market Update: There are two trading days remaining in August... Labor Market Economic Data today (8:30 AM ET) ahead of Friday's potentially consequential PCE Inflation Report for July... 

Now, onward to the elephant in the room:  NVDA, which exceeded The Street's estimates on Earnings and Revenues, and guided higher, but without any updated date on sales to China. Couldn't the outstanding-- almost unprecedented performance and future guidance without China sales-- be construed as a positive setup for the quarters ahead, considering that the U.S.-China relationship is being transformed for the better from a U.S. perspective?  

After all, the company is still a juggernaut, with or without China. 

The Wall Street research houses are certainly thinking and behaving that way...

Wall Street's love affair with NVDA remains intact-- and is strengthening.  Good luck standing in front of it or fading it...

JPMorgan reiterated its Buy Rating and increased its Target Price to 215...

Jefferies reiterated its Buy Rating and increased its Target Price to 205...

Bernstein keeps its Outperform Rating and raised its Target Price to 225...

Truist reiterated Buy Rating and rised Target Price to 228

Goldman Sachs reiterated its Buy Rating and Target Price of 200...

Citi maintains a Buy Rating and raises its Target Price to $ 210...

Loop Capital reiterates Buy Rating and lifted its Target Price to 250...

KeyBanc keeps Overweight Rating, lifts Target Price to 230...

Melius Research reiterated Buy Rating and raised Target Price to 240... 

Technically, my attached 4-Hour Chart continues to argue that NVDA ended a significant correction at its 8/20/25 low of 168.80 off of the ATH at 185.22 (7/31/25). 

Based on my setup work, this means to me that all of the price action after the 168.80 low represents the initiation of a new upleg-- with an initial high at 183.40 yesterday, followed by the Earnings-induced pullback to last eve's post-Earnings spike low of 171.86 that held above 8/20 low of 168.80, and attracted renewed buying interest that has propelled the stock to 179-180 so far in today's pre-market trading...

Only a plunge that breaks and sustains beneath 168.80 will invalidate my currently positive outlook for NVDA that projects next to 196-201... Last is 179.44...

Next Up: ES Review...