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Nvidia (NVDA) Downgrade Alert, Watch for 14% Technical Downtrend Continuation - 11/3/2009 8:45:44 AM

By Chip Brian, SmarTrend Analytics Team
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Nvidia (NASDAQ:NVDA) downgraded to Underweight from Equal Weight at Morgan Stanley. The stock closed yesterday at $12.00 on volume of 15,103,538 shares, above average daily volume of 0.

Nvidia is currently below its 50-day moving average of $14.31 and should find support at its 200-day moving average of $11.42.

SmarTrend is bearish on shares of NVDA and our subscribers received a Downtrend alert on October 02, 2009 at $13.95, which has returned 14% to date.

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