Long Position on NVDA @ $62.25 on 9/8/2016 (Momentum)

Bullish Cup & Handle on NVDANVIDIA Corporation (NVDA) operates as a visual computing company in the United States, Taiwan, China, the rest of Asia Pacific, Europe, and other Americas.

The company operates through two segments, GPU and Tegra Processors.

The GPU segment offers processors, which include GeForce for PC gaming; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla GPU accelerators for researchers, deep learning, and big-data analysts; and GRID for cloud-based streaming on gaming devices.

The Tegra Processor segment provides processors that integrate a computer onto a single chip under the Tegra brand name; DRIVE automotive computers, a computing platform for advanced driver assistance systems and digital cockpits; and tablet and portable devices for mobile gaming under the SHIELD name. Its products are used in gaming, enterprise, high performance computing and cloud, and automotive markets.

The company sells its products primarily to original equipment manufacturers, original design manufacturers, system builders, motherboard manufacturers, add-in board manufacturers, and retailers/distributors. 

Shares have formed a bullish "cup and handle" and higher share prices are expected for this stock. Note that we featured this stock in January at $32.15!

 

52-Weeks Trading Range: $21.99 to $63.49 

Entry Point: $62.25

Stop Loss: $59.00

Target Price: $68.50

Updates

9/30/2016 10:06:42 AM

NVDA closed at $68.85

Position closed on 9/30/2016 at price of $0.00 with a 0.00% gain in 22 days.

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