-
AAPL
Apple
-
#1
-
NVDA
NVIDIA
-
#2
-
MU
Micron Technology
-
#3
-
MSFT
Microsoft
-
#4
-
AVGO
Broadcom
-
#5
-
AMZN
Amazon.com
-
#6
-
SNDK
Sandisk Corporation
-
#7

Image: Bigstock
Nvidia (NVDA) Recently Broke Out Above the 200-Day Moving Average
Nvidia (NVDA - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, NVDA crossed above the 200-day moving average, suggesting a long-term bullish trend.
The 200-day simple moving average is widely-used by traders and analysts, and helps establish market trends for stocks, commodities, indexes, and other financial instruments over the long term. The indicator moves higher or lower together with longer-term price moves, serving as a support or resistance level.
Shares of NVDA have been moving higher over the past four weeks, up 6.1%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that NVDA could be poised for a continued surge.
Looking at NVDA's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 2 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on NVDA for more gains in the near future.