Nvidia (NVDA) needs to make a support base at or around $17.45 to $17.55. The price shall hold fort at this price range and it should test this support level one more time before it decides to move upward. If you buy NVDA at or around $17.50, then you should be watching your trader account to start accumulating $$ going forward.
The competitors, Intel and ATI, have their own market, however; Nvidia (NVDA) has no substitute so far with its GPU performance. If it did, the company’s door would have been closed and heavy layoffs would had been announced. On the other hand, if you are interested to prove Nvidia (NVDA)'s GPU performance yourself go to Best Buy and compare graphics and color richness on different laptops running ATI, Nvidia (NVDA) and Intel Chip set yourself. You will be the judge at that point.
What Nvidia (NVDA) needs, however, is to get a hold of its footage in the smart device markets. The future is shining on smart phones and tablets where one’s whole life activities will be held in cyber space in near future. As the cyber space infrastructure’s back bone is being built in modern countries, the graphics is what will be commanding the user friendly interface between the hardware and the users.
If the market does not experience bad news like Japan's nuclear plant failure or the most extreme cases such as terrorist attacks on American soils, then the stock should be cruising along to sail and to dock around $23. Watch the Candle Sticks charts and the volume as the short seller bears are done their buy backs and it is time for the bulls to roar Nvidia (NVDA) to the market field.
Disclosure: I am long NVDA.
My penny thoughts about NVDA & its Chart
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