NVIDIA Corporation (NASDAQ:NVDA) Rocket Rocket To Record Close

NVIDIA Corporation (NASDAQ:NVDA) Rocket Rocket To Record Close

NVIDIA Corporation (NASDAQ:NVDA) Rocket Rocket To Record Close

  • Nvidia shares rocket to record close after analyst who missed the hot trade buys in
  • Shares of Nvidia surged Wednesday to a record close thanks to an upgrade from SunTrust Robinson Humphrey
  • The firm admits it’s late to upgrade Nvidia, one of the hottest stocks of the year.
  • It changed its standing from a hold to a buy with a $177 price target.

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 moving.

Intermediate term: Prices are trending.

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

The projected upper bound is: 181.08.

The projected lower bound is: 153.33.

The projected closing price is: 167.20.

NVIDIA CORP closed up 1.710 at 165.960. Volume was 2% below average (neutral) and Bollinger Bands were 24% wider than normal.

Open            High            Low              Close            Volume
161.780       166.550       161.300       165.960       19,415,988

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

Moving Averages: 10-period         50-period          200-period
Close:                       156.12               145.21                108.19
Volatility:                34                      67                       63
Volume:                  22,754,032       25,377,106       17,720,594

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 53.4% 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 2 periods.

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 86.0155. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 8 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 66.90. 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 16 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 103.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 8 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 buy 4 period(s) ago.

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John Heffernan

John Heffernan is an Analyst at HEFFX. John is a BSc in Economics with Honors from the University of Buckingham, and is a contributor on equities at Live Trading News.

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