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Nvidia Set to Possibly Pullback After Yesterday's Rally of 2.73%

By James Quinn

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.

Over the past year, Nvidia has traded in a range of $19.09 to $168.50 and is now at $155.45, 714% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has risen 1.1%.

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