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Watch for Nvidia Corp to Potentially Pullback After Gaining 2.26% Yesterday

By Nick Russo

Nvidia Corp (NASDAQ:NVDA) traded in a range yesterday that spanned from a low of $263.62 to a high of $268.55. Yesterday, the shares gained 2.3%, which took the trading range above the 3-day high of $265.67 on volume of 6.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of Nvidia Corp on May 4th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $235.16. Since that recommendation, shares of Nvidia Corp have risen 11.6%. We continue to monitor NVDA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Nvidia Corp share prices have moved between a 52-week high of $268.55 and a 52-week low of $139.76 and are now trading 92% above that low price at $268.13 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 0.9%.

Keywords: rebounders nvidia corp

Ticker(s): NVDA