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Downgrade Alert for Nvidia (NVDA)

By Nick Russo

Nvidia (NASDAQ:NVDA) was downgraded from Buy to Hold at Stifel today. The stock closed yesterday at $35.80 on volume of 11.3 million shares, above average daily volume of 7.9 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 $19.09 and a high of $36.64 and closed yesterday at $35.80, which is 88% above that low price. The 200-day and 50-day moving averages have moved 0.77% higher and 1.47% higher over the past week, respectively.

Nvidia (NASDAQ:NVDA) is currently priced 13.4% above its average consensus analyst price target of $31.00. The stock should find initial support at its 50-day moving average (MA) of $31.27 and further support at its 200-day MA of $27.32.

SmarTrend recommended that subscribers consider buying shares of Nvidia on February 18th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.44. Since that recommendation, shares of Nvidia have risen 17.4%. 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

Ticker(s): NVDA