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Upgrade Alert for Nvidia (NVDA)

By Shiri Gupta

Nvidia (NASDAQ:NVDA) was upgraded from Neutral to Buy at Nomura today. The stock closed yesterday at $46.79 on volume of 11.9 million shares, above 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.

Nvidia share prices have moved between a 52-week high of $47.54 and a 52-week low of $19.09 and closed yesterday at 145% above that low price at $46.79 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has risen 1.1%.

Nvidia (NASDAQ:NVDA) is currently priced 33.7% above its average consensus analyst price target of $31.00. 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.

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 51.8%. 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