Stock Picks and Trade Ideas for Friday - GS, NOVL,RNWK, NTRI, NVDA
Chart courtesy of stockcharts ( click to enlarge )NVDA - Nvidia gave us a small move on Wednesday, which could be the start of a bigger move. If the stock can break through Wednesday’s high of $20.66, we should see a strong follow through move. This move would break the trading range, and should drive the stock back towards highs. Although the stock didn't perform well since the start of the year, we should see a rebound very soon as the technical chart now shows positive momentum is back as MACD is above 0 and K line is on top of D line. In addition 20 day moving average and 50 day moving average seems both are stabilizing which is a very positive sign.Keep watching NVDA for a bigger move soon.
Mowrey and Buckingham have a 12- to 24-month price goal of $47 for Nvidia. Click here to know more.
Mowrey and Buckingham have a 12- to 24-month price goal of $47 for Nvidia. Click here to know more.
NTRI - $19.18, down 9%. Range was $20.23 to $18.92. This stock cooled down today, after the earnings report. I had not expected this action, as I thought it would continue higher today. At least today’s drop was on low volume for a usual earnings day. The chart is now a little mixed, but I'm still convicend is too early to start selling. The K is just below the D line, so technically we had the bearish crossover today,but it could be just a small violation.
Chart courtesy of stockcharts ( click to enlarge )RNWK is technically in uptrend. But looking at the chart above is hard to intepret the next possible move. Furthermore, it is moving really slow. Entry point would be on the day it blows through $6.30 on heavy volume.
NOVL - The stock continues to have great support at $6.28 on its 20-day moving average. Today, the stock closed above its 50 day EMA ($6.39) again. I would look for a move up to $6.58 resistance tomorrow. If it passes that, there is very strong resistance at $6.86 coming up next.
GS - Stock broke through resistance at $181.75 accompanied with high volume. We should be able to see some decent upside movement for the bulls here. This stock should run to at least $196.50 ( 200-day moving average ).
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.
That's All. Have a great day !!!
AC
Labels: GS, NOVL, NTRI, NVDA, RNWK
