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Nvidia (NVDA) Approaches New Upside Target of $12.56

Published on Wed, 02/27/2013 - 10:38
By Peter Chu

Nvidia (NASDAQ:NVDA) has opened bullishly above the pivot of $12.34 today and has reached the first level of resistance at $12.47. Investors may be interested in a cross of the next upside pivot targets of $12.56 and $12.79.

Nvidia share prices have moved between a 52-week high of $15.66 and a 52-week low of $11.15 and are now trading 12% above that low price at $12.47 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Nvidia (NASDAQ:NVDA) has potential upside of 15.0% based on a current price of $12.47 and analysts' consensus price target of $14.34. The stock should find resistance at its 200-day moving average (MA) of $12.81, as well as support at its 50-day MA of $12.39.

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.

By Peter Chu
pchu@fnno.com

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