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Nvidia: The Winning Streak Continues (NVDA)

By David Diaz

Nvidia (NASDAQ:NVDA) traded today at a new 52-week high of $131.88. Approximately 7.8 million shares have changed hands today, as compared to an average 30-day volume of 8.1 million shares.

Nvidia (NASDAQ:NVDA) defies analysts with a current price ($131.68) 9.1% above its average consensus price target of $119.73. The stock should find initial support at its 50-day moving average (MA) of $34.61 and further support at its 200-day MA of $28.99.

Over the past year, Nvidia has traded in a range of $19.09 to $131.88 and is now at $131.68, 590% above that low. The 200-day and 50-day moving averages have moved 1.07% higher and 0.93% higher over the past week, respectively.

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.

SmarTrend recommended that subscribers consider buying shares of Nvidia on April 24th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $102.79. Since that recommendation, shares of Nvidia have risen 24.4%. 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

Ticker(s): NVDA