U.S stock futures gaining after NVDA’s strong result

Traders are rejoicing about the NVDA results which beat expectations in the first quarter. There is no slowdown in the company’s strong performance and it announces a 1-10 stock split. Under the current situation, we might see U.S. indices continue to add to gain and target a new high. However, investors also focused on the FOMC minutes of the meeting, which showed the Fed’s concern over inflation.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index hanging near the top and now showing major bearish reactions. The index might continue to maintain the current bullish pressure and extend the bullish trend to print another higher swing high. No change to the outlook, when a bearish correction happened in the index then traders could wait near the support level for bullish reactions. Whenever the index bounces from the support level, traders will continue to add more long positions in stocks.

Hess Corportaion (HES)

HES share prices break out below the bullish channel and might test the daily SMA 200 soon. Traders will observe the share price reactions near the daily SMA 200. When there are bullish reactions, traders could enter long positions, expecting the share prices to return inside the bullish channel. Meanwhile, a close below the daily SMA 200 and a new lower low will cancel the bullish outlook.

Kraft Heinz Company (KHC)

KHC share prices are consolidating between the daily SMA 100 & 200. If the share prices could break out higher and print a new higher high then the bullish trend could continue. Traders could use each downturn in the share prices toward the bottom of the range to add more long positions for now. However, a close below the daily SMA 200 might cancel the bullish outlook.