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

By David Diaz

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.

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%.

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.

Keywords: rebounders nvidia corp

Ticker(s): NVDA