Go to the Globe and Mail homepage

Jump to main navigationJump to main content


What the Charts Say

Bullish on Nvidia Add to ...

Nvidia Corp. had a sharp decline from $26.17 (U.S.) to $11.65 in 2011 (A-B), a recovery rally to $16.90 (C) and then settled in a horizontal trading range between $11.50 and $16.50 (dashed lines).

The recent rise to $19.05 confirmed the breakout and the start of a new major up-leg. A minor pullback toward about $16.50 may occur, but only a sustained decline below the 40wMA (currently near $15.50) would be negative.

Point & Figure measurements provide targets of $19 and $22 (2.5-per-cent and 18.7-per-cent appreciation potentials from current levels). The large trading range (dashed lines) supports higher targets.

Monica Rizk is the senior technical analyst for Phases & Cycles Inc. (www.phases-cycles.com). Ron Meisels is a contributor to the www.NA-marketletter.com website and Tweets at @Ronsbriefs. They may hold shares in companies profiled. Please see the site for a glossary.

Follow us on Twitter: @Monicarizk1, @RonsBriefs

More Related to this Story

Security Price Change
NVDA-Q NVIDIA Corp. 17.935 0.215
1.213 %
Add to watchlist
Live Discussion of NVDA on StockTwits
More Discussion on NVDA-Q


In the know

Most popular video »


More from The Globe and Mail

Most Popular Stories