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NVIDIA has been on our radar since we started the trading room back in March 2016. At that time, the candidate appeared on the IBD50 list, featuring a great setup that eventually saw the stock soar 271.876% in 10 short months. How did NVDA accomplish this goal? The answer is in the product line and history of the GPU.
This January, NVIDIA will kick off CES and usher in a new year of technology innovation when co-founder and CEO, Jen-Hsun Huang, takes the stage to give the preshow keynote address. 
Let’s look at the chart. Wednesday the stock printed a pivot high at 119.93, exceeding the original measured move target of 111.62. We also witnessed the first outside day or bearish engulfing candle in its bid for fresh 52 week highs. Volume is intense as well, signaling institutions have been at work.
Price is still above the bullish trending 9ema. SOTEMA is supportive, as RSI remains embedded. Technically speaking, the dip on Thursday triggered a sell signal. Historically, the company has seen its share price appreciate an additional 4%, during the January four day event. Therein lies our ambivalence, the stock is gyrating at 52 week highs, with the CEO delivering the keynote speech to open CES next week.
NVIDIA is the AI computing company. The GPU is NVIDIA’s invention, evolving into an AI computing platform that serves as the brain of computers, robots, and self-driving cars that can understand the world and interact with people.
Product Categories (10)

  • Augmented & Virtual Reality
  • Computer Hardware and Software
  • Drones
  • Gaming
  • Internet Services
  • Robotics
  • Smart Home/Appliances
  • Streaming Services
  • Vehicle Technologies
  • Wireless Devices
Brands (8)

  • NVIDIA Tegra
  • Deep Learning and AI
  • NVIDIA Automotive
  • NVIDIA GeForce GTX
  • NVIDIA Quadro
  • NVIDIA Tesla

These are the reasons that we decided to give it a go and scalp/swing the stock one more time.

Over the weekend, we’ll look at potential winners presenting at CES 2017. If the setups look good, we’ll talk about potential candidates in the weekend video news letter.

Happy Trading – CV

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