Nvidia Corp. (NVDA):
After gapping up in early November, Nvidia (NVDA) had been consolidating over its 8 and 21 day simple moving average.
Nvidia stock price is now sporting a bull flag and a breakout higher is looming over 31.82. Bollinger bands are pointing higher already. The momentum indicators are bullish with its Relative Strength Index (RSI) in the bullish zone over 60 while MACD is above median and trying to turn for a possible bullish cross. There was some decent trading volume yesterday on Nvidia.
NVDAÂ reports earnings on February 16th, 2016 after market close.
Nvidia (NVDA) Stock Chart – daily
Noah Holdings (NOAH):
NOAH is a wealth management firm in China and part of IBD 50 listing. The stock is sporting a cup with a rounded handle and looks ready to breakout over 33.55. Assuming this occurs, look for the stock to reach 35.33 and above that 37.75 with some consolidation along the way (and with interim resistance at 36.33). There is some supply around the 34 level that one needs to monitor in case of a failed breakout. The RSI on NOAH is in the bullish zone over 60 while MACD made a bullish cross but flat. An earnings date has not been reported yet.
Noah Stock Chart – daily
Thanks for reading.
Twitter:Â @sssvenky
The author is long NOAH and BABA at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
