Downgrade Alert for Nvidia (NVDA)
Nvidia (NASDAQ:NVDA) was downgraded from Buy to Neutral at Nomura today. The stock closed yesterday at $21.86 on volume of 6.4 million shares, below average daily volume of 8.1 million.
NVIDIA Corporation designs, develops, and markets three dimensional (3D) graphics processors and related software. The Company's products provide interactive 3D graphics to the mainstream personal computer market.
Potential upside of 5.2% exists for Nvidia, based on a current level of $21.86 and analysts' average consensus price target of $23.00. The stock should discover initial support at its 50-day moving average (MA) of $21.82 and subsequent support at its 200-day MA of $20.56.
In the past 52 weeks, shares of Nvidia have traded between a low of $16.77 and a high of $23.60 and closed yesterday at $21.86, which is 30% above that low price. The 200-day and 50-day moving averages have moved 0.20% higher and 0.23% higher over the past week, respectively.
SmarTrend is tracking the current trend status for Nvidia and will alert subscribers who have NVDA in their portfolio or watchlist when shares have changed trend direction.
Keywords: analyst upgrades/downgrades NVidia