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Watch for Shares of Nvidia (NVDA) to Approach Resistance at $156.65

By David Diaz

Shares of Nvidia (NASDAQ:NVDA) opened today above their pivot of $152.19 and have already reached the first level of resistance at $154.13. Investors may be interested in a cross of the next upside pivot targets of $156.65 and $161.11.

Based on a current price of $155.30, Nvidia is currently 22.9% above its average consensus analyst price target of $119.73. Nvidia shares have support at the 50-day moving average (MA) of $34.61 and additional support at the 200-day MA of $28.99.

Over the past year, Nvidia has traded in a range of $19.09 to $168.50 and is now at $155.30, 714% above that low. The 200-day and 50-day moving averages have moved 1.07% higher and 0.93% higher over the past week, respectively.

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: pivot alerts NVidia

Ticker(s): NVDA