Downgrade Alert for Nvidia (NVDA)
Nvidia (NASDAQ:NVDA) was downgraded from Outperform to Market Perform at Wells Fargo today. The stock closed yesterday at $14.41 on volume of 6.6 million shares, below average daily volume of 9.0 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.
In the past 52 weeks, shares of Nvidia have traded between a low of $11.15 and a high of $15.48 and closed yesterday at $14.41, which is 29% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.2%.
Potential upside of 2.0% exists for Nvidia, based on a current level of $14.41 and analysts' average consensus price target of $14.70. Nvidia shares have support at the 50-day moving average (MA) of $14.37 and additional support at the 200-day MA of $13.04.
SmarTrend recommended that subscribers consider buying shares of Nvidia on January 3rd, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $12.73. Since that recommendation, shares of Nvidia have risen 13.2%. We continue to monitor NVDA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades NVidia