NVIDIA Bullish Signs

nvda New York, February 1st (TradersHuddle.com) - Shares of NVIDIA Corporation (NASDAQ:NVDA) ended the trading session higher by $0.11 or 0.91% from its previous close. NVIDIA's price action formed what is considered to be a bullish engulfing candle that could very well signal a continuation of trend or reversal of the ongoing weakness.

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's recent stock range was formed by a trough where calculated support was defined at $11.91 and by a peak that established the resistance level at $13.19. This range could be used by traders managing their positions.

Traders wanting to establish a position in NVIDIA or traders that are already holding the stock can use the bullish engulfing pattern to their advantage. The pattern provides a defined risk, as it shows where the bears were able to push the stock down, before the bulls step in with a bid.

The bullish engulfing pattern is a leading indicator that provides an alert to the bulls that the trend will continue or that there is an immediate reversal to the short-term weakness seen on the stock. Below an Engulfing Bullish Candle Illustration:

TradersHuddle Search

Stock Search:


Site Search:

Loading

Technical Scans

Recent Trading Ideas

Latest Partner Headlines

Stock Market

Loading
Chart
o Dow Jones 16,636.74 ▲21.93 (0.13%)
o S&P 500 1,945.48 ▲4.20 (0.22%)
o NASDAQ 4,427.42 ▲7.94 (0.18%)
INDEXDJX:.DJI

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:16,636.74 Trade time:9:51AM EDT Value change:▲21.93 (0.13%)
INDEXSP:.INX

S&P 500

Company ID [INDEXSP:.INX] Last trade:1,945.48 Trade time:9:51AM EDT Value change:▲4.20 (0.22%)
INDEXNASDAQ:.IXIC

NASDAQ

Company ID [INDEXNASDAQ:.IXIC] Last trade:4,427.42 Trade time:9:51AM EDT Value change:▲7.94 (0.18%)

In The Wires

Copyright © 2013 TradersHuddle.com. All Rights Reserved.