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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