Tuesday, March 21, 2006

NVDA - High Volume Gap Up Tests Resistance - Can it Hold?

Click on charts for larger views.

Bolstered by a Lehman upgrade, NVDA had a high volume breakout which closed just $0.23 above its February high. The next level of major resistance is in the area of $56.00, however, we will need to see continuation fairly quickly in order for this break to hold. The 60 minute view shows that NVDA has regained its accelerated trendline. Looking at the AH action, price is down to $50.10 so we may be in for some profit taking here too. What is the likely impact of the MSFT Vista delay on NVDA?

No comments: