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Nvidia Corp: The Winning Streak Continues (NVDA)

By Nick Russo

Nvidia Corp (NASDAQ:NVDA) traded today at a new 52-week high of $267.00. This new high was reached on below average trading volume as 2.5 million shares traded hands, while the average 30-day volume is approximately 12.5 million shares.

Potential upside of 3.5% exists for Nvidia Corp, based on a current level of $266.81 and analysts' average consensus price target of $276.28. The stock should discover initial support at its 50-day moving average (MA) of $241.66 and subsequent support at its 200-day MA of $217.65.

NVIDIA Corporation designs, develops, and markets three dimensional (3D) graphics processors and related software. The Company's products provide interactive 3D graphics to the mainstream personal computer market.

Nvidia Corp share prices have moved between a 52-week high of $267.00 and a 52-week low of $139.76 and are now trading 91% above that low price at $266.81 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has risen 0.7%.

SmarTrend recommended that subscribers consider buying shares of Nvidia Corp on May 4th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $235.16. Since that recommendation, shares of Nvidia Corp have risen 11.6%. We continue to monitor NVDA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows nvidia corp

Ticker(s): NVDA