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Nvidia Corp (NVDA) Approaches New Upside Target of $169.08

By Shiri Gupta

Nvidia Corp (NASDAQ:NVDA) has opened bullishly above the pivot of $166.50 today and has reached the first level of resistance at $167.36. Should the shares continue to rise, the resistance pivots of $169.08 and $171.66 will be of interest.

Over the past year, Nvidia Corp has traded in a range of $124.46 to $292.76 and is now at $168.44, 35% above that low. The 200-day and 50-day moving averages have moved 0.78% lower and 1.71% higher over the past week, respectively.

There is potential upside of 64.0% for shares of Nvidia Corp based on a current price of $168.44 and an average consensus analyst price target of $276.28. The stock should hit resistance at its 200-day moving average (MA) of $210.59, as well as support at its 50-day MA of $150.70.

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: pivot alerts nvidia corp

Ticker(s): NVDA