{"id":35920,"date":"2015-05-11T07:59:13","date_gmt":"2015-05-11T11:59:13","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=35920"},"modified":"2015-05-11T07:59:13","modified_gmt":"2015-05-11T11:59:13","slug":"nvidia-corporation-nasdaqnvda-short-term-support-around-20-levels","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/nvidia-corporation-nasdaqnvda-short-term-support-around-20-levels-35920","title":{"rendered":"NVIDIA Corporation (NASDAQ:NVDA) \u2013 Short Term Support Around $20 Levels"},"content":{"rendered":"

NVIDIA Corporation (NASDAQ:NVDA)<\/strong> ended the last trading session with a sharp loss of 7.40% after reporting a poor first quarter result and a weak guidance for the second quarter. The earnings per share came at $0.24 against the expected $0.26 though it perfectly met the EPS $0.24 of the same quarter in the previous year. The revenue was reported at $1.15 billion against the projected $1.16 billion, a deficit due to the forex headwinds according to the company. The second quarter revenue is expected to be $1.01 billion by the company, against the analysts\u2019 expectation of $1.185 billion. The second quarter guidance is also going to be hit by a restructuring charge of $100-$125 million.<\/p>\n

\"3\"<\/a><\/p>\n

Technically, NVIDIA Corporation (NASDAQ:NVDA) has been trading for the last 4 years in the yearly range established in 2010 and has been unable to go beyond that. The year of 2011 saw a rapid loss of most of the gains made in the previous year, in the form of a decline to $12 levels from the high of $26. The stock traded in the range of $12-$16 for the next 2 years and finally rallied in 2014 to reach close to $24 levels. The entire price action has taken the form of a Rounded Bottom, which makes it difficult to pinpoint the target, especially in the last phase of the pattern. So it is nearly impossible to determine if the high of $23.60 is the final high of this year or not.<\/p>\n

Analyzing the recent price action in the last few days, one can come to the conclusion that the bulls must provide support right now from $20 levels or at most $19 levels to keep the medium term bullish momentum intact. Otherwise it would be difficult for the bulls to see the stock retesting the old support area in the band of $16-$17 levels.<\/p>\n","protected":false},"excerpt":{"rendered":"

NVIDIA Corporation (NASDAQ:NVDA) ended the last trading session with a sharp loss of 7.40% after reporting a poor first quarter result and a weak guidance […]<\/p>\n","protected":false},"author":2,"featured_media":18531,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[263],"tags":[3837,3836],"stock_ticker":[],"class_list":["post-35920","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-nasdaqnvda","tag-nvidia-corporation-nasdaqnvda","entry"],"acf":[],"yoast_head":"\nNVIDIA Corporation (NASDAQ:NVDA) \u2013 Short Term Support Around $20 Levels - Wall Street PR<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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