Wall Street Traders Column 8/15/05 - Buy NVDA
August 17th, 2005 / 2:52 am / by Harry Aloof
Buy Alert - NVIDIA (NVDA) Nasdaq - Technical Viewpoint: From a low of $26.30 on Jul 1, 2005 prices rallied, reaching a high of $29.30 on Jul 14, 2005. A decline saw prices pull back, reaching a low of $25.42 on Jul 25, 2005. Another rally saw prices penetrate resistance line “A”, closing 8/12/05 at $29.95. Technicals: MACD Index (MACD): A Buy Alert! was given on Aug 2, 2005 when the solid line crossed the dotted line to the upside. Support: Remains at $28.50. Resistance: Is at None at current levels. Point & Figure: Reversed to the upside on Aug 12, 2005. A P&F downside reversal takes place at $27.00. Summary: Technical indicators have turned bullish. BUY! NVIDIA CORPORATION (NVDA-Nasdaq) @ $30.25 Stop: Use a protective stop of $28.25. NVIDIA CORPORATION is currently trading @ $29.95 plus $1.70 on Aug 12, 2005. Price Objective: $42.50. Risk/Reward: $2.00 VS. $12.25. Today’s Risk Reward Ratio: 6:1
