NVDA Nabs Another Record High on BofA Bull Note

The stock is going on its sixth straight win

Digital Content Manager
Jul 7, 2020 at 9:52 AM
facebook X logo linkedin


Semiconductor name Nvidia Corporation (NASDAQ:NVDA) is modestly higher this morning, up 0.8% at $396.82, after Bank of America Securities hiked its price target to $460 from $420. The analyst said it saw strength in the video game space, which NVDA has a heavy hand in, especially thanks to major consoles releases from Microsoft (MSFT) and Sony (SNE) this year. 

Today's lift marks another all-time high for NVDA stock. And not only that, the equity is pacing for its sixth straight win on the charts -- its longest since May. Its rally off March lows has been impressive, with several pullbacks deftly captured by the 20-day moving average. For the year, NVDA is now up over 67%. 

Overall, analyst sentiment has been quite bullish, though there are a few holdouts. Of the 29 in coverage, 23 say "buy" or better, five say "hold," and one analyst still gives it a "strong sell" rating.

Options players, meanwhile, have rarely been more bearish. While NVDA's 10-day put/call volume ratio of 0.58 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) indicates that calls are still outnumbering puts on an overall basis, this ratio stands higher than 79% of readings from the past year. This suggests a much healthier-than-usual appetite for long puts of late. 

 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI