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Watch for Shares of Nvidia (NVDA) to Approach Support at $12.05
[December 27, 2012]

Watch for Shares of Nvidia (NVDA) to Approach Support at $12.05

Dec 27, 2012 (SmarTrend(R) News Watch via COMTEX) -- Nvidia (NASDAQ:NVDA) has opened bearishly below the pivot of $12.28 today and has reached the first level of support at $12.15. Analysts will be watching for a cross of the next downside pivot targets of $12.05 and $11.82.

In the past 52 weeks, Nvidia share prices have been bracketed by a low of $11.15 and a high of $16.90 and are now at $12.04, 8% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.2%.

Nvidia (NASDAQ:NVDA) has potential upside of 29.2% based on a current price of $12.04 and analysts' consensus price target of $15.56. The stock should run into initial resistance at its 50-day moving average (MA) of $12.26 and subsequent resistance at its 200-day MA of $13.15.

SmarTrend recommended that its subscribers protect gains by selling shares of Nvidia on September 5th, 2012 by issuing a Downtrend alert when the shares were trading at $13.35. Since that call, shares of Nvidia have fallen 8.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Write to Chip Brian at --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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