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JimVanMeerten (62.60)

Nvidia has possibilities

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October 03, 2011 – Comments (0) | 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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