Sellers in Control - NVIDIA

Published on Thursday, 29 July 2010 11:53 Written by Christian Paolinetti

New York, July 29th (TradersHuddle.com) - Unusual high volume detected on shares of NVIDIA Corporation (NASDAQ:NVDA), early in the trading session. NVIDIA is currently trading lower by 8.59%, so definitely the sellers in control, as the stock's volume is already above average.

NVIDIA Corporation (NASDAQ:NVDA) designs, develops, and markets three dimensional graphics processors and related software. Its products provide interactive 3D graphics to the mainstream personal computer market.

NVIDIA has already traded 1.75 times its 3-month average volume, and has calculated support and resistance at $10.17 and $10.83 respectively. Traders like to use volume as their lie detector for price action moves through predefined trading ranges.

The overall market index S&P 500 is trading lower by -0.37% from its previous trading close, which means that NVIDIA stock is underperforming the overall market.