After Yesterday's Rally of 3.54% Shares Could Potentially Pullback
Nvidia (NASDAQ:NVDA) traded in a range yesterday that spanned from a low of $40.54 to a high of $42.53. Yesterday, the shares gained 3.5%, which took the trading range above the 3-day high of $41.00 on volume of 12.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, shares of Nvidia have traded between a low of $19.09 and a high of $42.48 and are now at $42.43, which is 122% above that low price. The 200-day and 50-day moving averages have moved 1.07% higher and 0.93% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Nvidia on February 18th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.44. Since that recommendation, shares of Nvidia have risen 34.6%. We continue to monitor NVDA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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