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Look for Shares of Nvidia Corp to Potentially Pullback after Yesterday's 2.84% Rise

By Nick Russo

Nvidia Corp (NASDAQ:NVDA) traded in a range yesterday that spanned from a low of $167.19 to a high of $171.04. Yesterday, the shares gained 2.8%, which took the trading range above the 3-day high of $169.80 on volume of 9.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Nvidia Corp has traded in a range of $124.46 to $292.76 and is now at $170.27, 37% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has advanced 1.7%.

SmarTrend recommended that subscribers consider buying shares of Nvidia Corp on January 14th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $148.62. Since that recommendation, shares of Nvidia Corp have risen 11.4%. We continue to monitor NVDA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders nvidia corp

Ticker(s): NVDA