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Nvidia Rises 2.73% on Heavy Volume: Watch For Potential Pullback

By Amy Schwartz

Nvidia (NASDAQ:NVDA) traded in a range yesterday that spanned from a low of $153.26 to a high of $157.44. Yesterday, the shares gained 2.7%, which took the trading range above the 3-day high of $154.70 on volume of 11.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Nvidia share prices have moved between a 52-week high of $168.50 and a 52-week low of $19.09 and are now trading 714% above that low price at $155.45 per share. Over the past week, the 200-day moving average (MA) has gone up 1.1% while the 50-day MA has advanced 0.9%.

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 47.5%. We continue to monitor NVDA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders NVidia

Ticker(s): NVDA