(PRO Views are exclusive to PRO subscribers, giving them insight on the news of the day direct from a real investment pro. See the full discussion above.) Nvidia is slated to report earnings Wednesday, and there are two key levels investors should watch to assess how the results could impact shares of the world’s largest company by market capitalization, according to NYSE insider Jay Woods . “[Nvidia has] traded lower five of the last six times they’ve reported, trading around 215, 232, [2]35, that old resistance level,” Woods said. “I don’t suspect we’re going to see that kind of momentum to break us above it.” To the downside, Woods is keeping an eye on $195. “That’s a level to watch on a pullback that could be telling,” he said. Nvidia traded around $210 on Monday. A move to $195 represents a 7.1% decline. The closing peak around $235.74 is roughly 12.3% above Monday’s levels. NVDA YTD bar NVDA year to date Nvidia’s fiscal second-quarter results, due on Wednesday, are expected to be staggering. The company is expected to clock $2.10 earnings per share for that period, representing a 99.7% increase on a year-over-year basis, according to analysts polled by LSEG. The Street also has a consensus estimate of $92.179 billion on revenue for Nvidia — a figure that is 97.2% above reported revenue from the same three-month period a year ago. Beyond Nvidia, Woods will also be watching several other large technology companies that report this week, including CrowdStrike and Salesforce . Fellow chipmaker Marvell Technology, which will post its earnings on Thursday, is also a good name to watch, per Woods. However, the investor recommends that traders steer clear of the stock until after its results come out. “The downside risk [is] a little, little scary, around 200, 185,” Woods said of Marvell. “Upside potential, [there’s] not much there. … I’d avoid it until after they announce earnings.” Marvell shares traded near $227 on Monday. In the exclusive video, Woods also talks about other events he’ll be watching this week, including: The release of the Personal Consumption Expenditures (PCE) inflation data from the U.S. Bureau of Economic Analysis on Wednesday. Federal Reserve Chair Kevin Warsh’s keynote address at the Jackson Hole Economic Policy Symposium on Friday. “What we want to hear is if he has any reaction to Treasury Secretary Scott Bessent announcement last week on Treasury buybacks,” Woods said. (This weekly Monday video is exclusively for CNBC PRO subscribers.)
