 Welcome, traders, to another TickMeal earnings report preview with me, Patrick Munley. Before we jump into today's report, as always, we want to adhere to the risk disclaimer. The material provided is for information purposes only and should not be considered as investment advice. The views, information and opinions expressed by me are solely mine and they're not indicative or representative of those held by TickMeal in the UK or TickMeal in Europe limited. Okay, let's jump into today's report we are looking at NVIDIA, who will report after the New York Close today. 39 analysts surveyed by FACSE, NVIDIA on average is expected to post adjusted earnings of $130 per share, up from the $0.92 a share reported a year ago and the $1.19 a share expected at the beginning of the quarter. All figures are adjusted for the last year's $41 stock split. Wall Street expects revenue of $8.12 billion from NVIDIA according to $36.12 by FACSE. That's up from the $5.66 billion NVIDIA reported a year ago in the same quarter and the $7.28 billion forecast at the beginning of the quarter. And its last earnings report NVIDIA forecast $7.94 billion to $8.26 billion. Over NVIDIA's first or eight planning quarter shares have dropped 25% while the PHLX semiconductor index has fell 17% over the same period. Meanwhile, the S&P obviously has shed 20% while the NASDAQ composite is down well over 20%. The stock has caused a long time high of $333 a share and has since been halved really in value. NVIDIA has topped down its estimates for earnings consistently over the past five years and has beaten Street revenue estimate for 12 consecutive quarters. Shares are anticipated to find some consolidation here. There is actually a whisper number of a 135 earnings per share on the streets. NVIDIA will likely solidify its data centre leadership as its new H100 chip ramps up in the third quarter. Demand continues to outpace supply though constraints should ease in the second half of this year. Next-gen had a lovely performance gaming GPUs expected in the third quarter. The long-term thesis remains intact as NVIDIA's core leading game, gaming and IA accelerator franchises remain positioned for outside structural growth. The gaming falling secondary market prices and improved stability in retail are among the signals that GPU demand is moderating. While such a result makes sense, particularly with the velocity of Ethereum hashing ads declining, the specific impact to NVIDIA is hard to quantify given the numerous variables. Let's take a look at how the stock has statistically traded around earnings. Shares have moved higher in the immediate aftermath of 7 out of 12 previous reports. On average, the stock has moved up 0.6% in the first day of trading after the company reports. On average, NVIDIA's 12 earnings releases NVIDIA's more likely to trade higher one day after earnings for an average gain of 1.9%. On average, the stock has moved higher by 1.2% one week after earnings. Let's take a look at what the market is anticipating from the options side of things, looking at implied volatility. The options traders are pricing in an 11.5% move on earnings. However, the stock has averaged a 4.9% move in recent quarters. From a flow and sentiment perspective, there has been notable buying 13,697 contracts of a bullish $200 call expiring this Friday. Options order flow in general has also been bullish. Investor sentiment going into the company's earnings release has 74% expecting an earnings beat. NVIDIA's shares have drifted down over 30%, 30.1% opposed to its prior earnings announcements. Using the last 12 quarters data, the average earnings drift is about 17.3% between announcements. Let's pull up the chart here and take a look at the technical setup and see if we can identify any near-term trading opportunities in the stock. Technically, we are in a corrective phase and we're looking for an equality objective versus the B wave swing high at $289, which should see us test $148 to the downside. That would be a key area. I've been watching for bullish reversal patterns there to engage on the long side and looking for a move back through the 179 level to ultimately set up a move then to test the projected trend channel resistance and the high volume node at $220 on the upside. At this stage, if we don't make the move to the equality objective, I'd be looking for a close back through $180 as a bullish development and again having that same target to the upside of the $220 mark. Any close through $148 will be a bearish development, opening a move down then to test monthly projected range support and the $131 extension of that B wave swing high at $102 as the next downside objective. As always, traders, plan the trade, trade the plan and most importantly, manage your risk. Until next time, thanks very much.