• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Doug Kass
    • Bruce Kamich
    • Jim Cramer
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • Trifecta Stocks
  1. Home
  2. / Investing
  3. / Stocks

Nvidia Could Resume Its Uptrend, So Raise Stop Protection

The chipmaker's charts indicate buyers of its shares were more aggressive going into the earnings it reported Thursday.
By BRUCE KAMICH
Nov 15, 2019 | 09:26 AM EST
Stocks quotes in this article: NVDA

Nvidia Corp. (NVDA) is the Stock of the Day here on Friday after the company reported its third-quarter numbers and fourth-quarter guidance on Thursday. The chipmaker forecast lighter-than-expected near-term revenues that offset a solid third-quarter earnings report. We looked at the charts of NVDA earlier this week and wrote at tht time, "Traders could go long NVDA in the $210-$200 area risking a close below $185. The $232 area is our first upside price target."  

Let's check out the charts again to see if things are still on track for Nvidia, which is a holding of Jim Cramer's Action Alerts PLUS charitable trust.

In this updated daily bar chart of NVDA, below, we can see that prices have traded sideways in the $210 area for much of the month so far. Traders could have used this small consolidation pattern to acquire a long position. Even though prices moved sideways we can see that the On-Balance-Volume (OBV) line continued to rise to a new high, telling us that buyers of NVDA were more aggressive ahead of this earnings report. Price momentum slowed slightly from October to November, but this is not a big enough bearish divergence to worry about.  

In this weekly bar chart of NVDA, below, we can see a bullish setup. Prices are above the rising 40-week moving average line. The weekly OBV line is pointed up, as is the MACD oscillator.  

In this weekly close only Point and Figure chart of NVDA, below, we have an initial upside price target of $230. The $240-$270 area would be the next upside price target.  

Bottom line strategy: Traders could hold longs recommended earlier this week. Raise sell stop protection to $190.

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are prohibited from trading individual securities.

TAGS: Earnings | Investing | Stocks | Technical Analysis | Semiconductors & Semiconductor Equipment | Technology | Real Money | Stock of the Day

More from Stocks

Jim Cramer: Buy GameStop For What It's Worth

Jim Cramer
Jan 25, 2021 6:14 AM EST

It's just a question of how high or low the stock can go.

This Is No Market for Complacent Traders

Helene Meisler
Jan 25, 2021 6:00 AM EST

Let's look at signs of excess in the market and how they compare with past action.

Bearish Bets: 2 NYSE Stocks You Should Consider Shorting This Week

Bob Lang
Jan 24, 2021 10:30 AM EST

These names are displaying both quantitative and technical deterioration.

Price Targets: How They Mislead and How They Can be Used

James "Rev Shark" DePorre
Jan 23, 2021 10:00 AM EST

The main problem with price targets is that they are a static number in a dynamic situation.

Stock Market Continues to Defy Conventional Wisdom

James "Rev Shark" DePorre
Jan 22, 2021 5:04 PM EST

Concerns about the action being overheated remain, but rotational action keeps the momentum going.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 11:01 AM EST JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    I discuss price targets in my Saturday column.
  • 07:54 AM EST GARY BERMAN

    Friday Morning Fibocall for 1/22/2021

    SPX (Long-Term View) The 1/21/21 NEW high @ 3861...
  • 11:16 AM EST CHRIS VERSACE

    Worst Stocks to Buy for the Biden Presidency

    Biden's take on the minimum wage, likely moves on ...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2021 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login