NVIDIA Corporation (NASDAQ:NVDA) HEFFX Highlights

NVIDIA Corporation (NASDAQ:NVDA) HEFFX Highlights

NVIDIA Corporation (NASDAQ:NVDA) HEFFX Highlights

  • Nvidia reported better-than-expected quarterly revenue and profit on Thursday helped by strong demand for its chips used in data centers and gaming devices such as Nintendo’s Switch.
  • Nvidia shares were down 5% in extended trading.
  • The company’s shares have surged more than 181% over the past year, one of the strongest performances across the benchmark S&P 500 index.
  • Nvidia — which has been diversifying into newer technologies including self-driving cars and artificial intelligence — originally came into prominence in the gaming industry for designing graphics processing chips, that are also used for cryptocurrency mining.

Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users. The Company’s Tegra brand integrates an entire computer onto a single chip, and incorporates GPUs and multi-core central processing units (CPUs) to drive supercomputing for mobile gaming and entertainment devices, as well as autonomous robots, drones and cars. The Company’s processor has created platforms that address four markets: Gaming, Professional Visualization, Datacenter, and Automotive. The Company’s offerings include NVIDIA DGX AI supercomputer, the NVIDIA DRIVE AI car computing platform and the GeForce NOW cloud gaming service.

Overall, the bias in prices is: Upwards.

Short term: Prices are stalling.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the upside.

The projected upper bound is: 176.54.

The projected lower bound is: 153.76.

The projected closing price is: 165.15.

NVIDIA CORP closed down -7.370 at 164.740. Volume was 100% below average (consolidating) and Bollinger Bands were 61% narrower than normal.

Open          High            Low             Close           Volume
172.160      172.660      164.330      164.740       53,737

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period        50-period        200-period
Close:                       166.90             157.15               116.62
Volatility:                37                     47                      63
Volume:                  12,550,108      21,441,780      18,259,222

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

NVIDIA CORP is currently 41.3% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume into NVDA.O (mildly bullish). Our trend forecasting oscillators are currently bullish on NVDA.O and have had this outlook for the last 19 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 51.9477. This is not an overbought or oversold reading. The last signal was a sell 0 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 52.82. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 33 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 23. This is not a topping or bottoming area. The last signal was a sell 0 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 0 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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