Skip to main content

Nvidia Corp. had a sharp decline from $26.17 (U.S.) to $11.65 in 2011 (A-B), a recovery rally to $16.90 (C) and then settled in a horizontal trading range between $11.50 and $16.50 (dashed lines).

The recent rise to $19.05 confirmed the breakout and the start of a new major up-leg. A minor pullback toward about $16.50 may occur, but only a sustained decline below the 40wMA (currently near $15.50) would be negative.

Point & Figure measurements provide targets of $19 and $22 (2.5-per-cent and 18.7-per-cent appreciation potentials from current levels). The large trading range (dashed lines) supports higher targets.

Monica Rizk is the senior technical analyst for Phases & Cycles Inc. ( Ron Meisels is a contributor to the website and Tweets at @Ronsbriefs. They may hold shares in companies profiled. Please see the site for a glossary.

Story continues below advertisement

Report an error

The Globe invites you to share your views. Please stay on topic and be respectful to everyone. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.

We’ve made some technical updates to our commenting software. If you are experiencing any issues posting comments, simply log out and log back in.

Discussion loading… ✨