Nvidia has possibilities
October 03, 2011
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RELATED TICKERS: NVDA
COMPLETE ARTICLE AND MORE GRAPHS
Nvidia (NVDA) is one of those middle of the road stocks that has taken a small beating in the market lately and might be due for a little rebound. The stock is off its one year high by about 49% so if you have it on your watchlist this might be a nice entry point. Recent trading activity hasn't been kind as this one month hourly trading chart provided by Barchart shows:
Barchart technical indicators:
1 - 56% Barchart technical sell signal
2 - Trend Spotter hold signal
3 - Below its 20, 50 and 100 day moving averages
4 - Although the stock is up 11.11% in the last year its recent weakness shows a 49.18% off its one year high
5 - The Relative Strength Index is 43.10% and falling
6 - Barchart computes a technical support level at 12.84
7 - Recently traded at 13.31 which is below its 50 day moving average of 13.68
Summary - The analysts sales and earnings projection for Nvidia (NVDA) are enough to take notice and the recent depressed price makes this a nice entry point. At today's price investors might see an annual total return of about 18% - 20% based on sales and earnings projection together with a higher P/E ratio.
Jim Van Meerten is a Marketocracy Master
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