Nvidia (NVDA) Offering Possible 38.89% Return Over the Next 29 Calendar Days

Nvidia's most recent trend suggests a bullish bias. One trading opportunity on Nvidia is a Bull Put Spread using a strike $355.00 short put and a strike $345.00 long put offers a potential 38.89% return on risk over the next 29 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $355.00 by expiration. The full premium credit of $2.80 would be kept by the premium seller. The risk of $7.20 would be incurred if the stock dropped below the $345.00 long put strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Nvidia is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for Nvidia is bullish.

The RSI indicator is at 61.05 level which suggests that the stock is neither overbought nor oversold at this time.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here

LATEST NEWS for Nvidia

Morgan Stanley's Semiconductor Picks: Qualcomm, Qorvo, Lam Research Over Intel, Nvidia
Tue, 16 Jun 2020 20:35:11 +0000
With computing and cloud stocks that are capitalizing on the work-from-home economy rallying, an analyst at Morgan Stanley is of the view that it's time to rotate out of them — and into semionductor stocks that are levered to a rebound in consumer spending.The Semiconductor Analyst Analyst Joseph Moore made the following changes to the ratings of the stocks in his coverage universe:Intel Corporation (NASDAQ: INTC) shares were downgraded from Overweight to Equal-weight with a price target upped from $61 to $65.NVIDIA Corporation (NASDAQ: NVDA) was downgraded from Overweight to Equal-weight, with a price target raised from $363 to $380.Qorvo Inc (NASDAQ: QRVO) was upgraded from Equal-weight to Overweight with a price target hiked from $91 to $130.Lam Research Corporation (NASDAQ: LRCX) was upgraded from Equal-weight to Overweight with a price target increased from $253 to $334.QUALCOMM, Inc. (NASDAQ: QCOM) was upgraded from Equal-weight to Overweight and the price target was moved up from $83 to $102.The Semiconductor Thesis The recession is bottoming out and is likely to be followed by a V-shaped recovery, Moore said in a Tuesday note. (See his track record here.)Against this backdrop, the analyst said it's worthwhile to shift his preference away from cloud and other compute stocks that he said have “idiosyncratic” momentum carrying them through the weakness.Instead, Moore said he prefers names that are likely to see one or two quarters of fundamental weakness but are more directly levered to an economic recovery, such as smartphones, memory and equipment and eventually auto and industrial.”It's a shift from growth to cyclical, but also a shift from idiosyncratic growth drivers (which suddenly comes at a high price) to stocks that are more of a direct play on a robust rebound in consumer spending,” the analyst said. Among its investment goals for the semiconductor sector, Morgan Stanley is maintaining at least market weightings on the sector and is taking profits in overvalued cloud names, he said. The analyst said he recommends increasing exposure to more cyclical elements by buying smartphone chipmakers; pure cyclical exposure in semicap, with a focus on memory over foundry; and cyclical analog stocks that still have a tailwind of multiple expansion.Chipmakers with exposure to autos should see a bottom, as that sector is experiencing significant weakness, Moore said.The analyst also sees the new stimulus in Europe as being encouraging for semi companies with electric vehicle exposure.Morgan Stanley remains Underweight on stocks such as Texas Instruments Incorporated (NASDAQ: TXN), which has already seen significant multiple expansion, and ON Semiconductor Corp (NASDAQ: ON), where Moore said margin performance is weak and competitive risks are rising.Semiconductor Price Action At the market close Tuesday: * Intel shares were up 0.5% at $60.40. * Nvidia was down 1.15% at $362.74. * Qorvo gained 2.61% to $112.58. * Lam Research shares rallied 5.34% to $305.48. * Qualcomm was up 3.62% at $89.52. Related Links:Why KeyBanc Is Betting On Intel's Comeback KeyBanc Upgrades Qualcomm On Potential Benefit From HiSilicon Ban Photo courtesy of Nvidia. Latest Ratings for QCOM DateFirmActionFromTo Jun 2020Morgan StanleyUpgradesEqual-WeightOverweight Jun 2020RosenblattInitiates Coverage OnBuy May 2020KeyBancUpgradesSector WeightOverweight View More Analyst Ratings for QCOM View the Latest Analyst RatingsSee more from Benzinga * Why KeyBanc Is Betting On Intel's Comeback * Why Key Intel Chip Design Exec's Departure Is Positive For AMD, Nvidia * Apple Could Announce In-House Chips For Macs At WWDC: Report(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

It’s Time To Rotate Into These 3 Less Expensive Chip Stocks, Analyst Says
Tue, 16 Jun 2020 19:43:00 +0000
Morgan Stanley upgraded shares of Qualcomm, Lam Research, and Qorvo on Tuesday, while downgrading Intel and Nvidia.

3 Chip Stocks for Tech Investors to Buy Now for Coronavirus Rally and Beyond
Tue, 16 Jun 2020 18:23:06 +0000
Let's dive into three semiconductor stocks that investors might want to buy both for the coronavirus rally and longer-term growth…

AMD's New Radeon Pro GPUs to Boost MacBook Pro Performance
Tue, 16 Jun 2020 16:46:04 +0000
AMD's new Pro 5600M Mobile GPU, customized for 16-inch MacBook Pro laptops, comes with robust features designed to support a diverse range of complex workloads.

Nvidia, Intel stocks get downgraded at Morgan Stanley
Tue, 16 Jun 2020 14:09:00 +0000
Morgan Stanley analyst Joseph Moore downgraded shares of Nvidia Corp. and Intel Corp. to equal weight from overweight Tuesday, writing that he's shifting his chip-sector preferences toward names that stand to benefit from a broader economic recovery. He previously showed a preference for stocks that could benefit from remote-working trends. Nvidia shares are off 0.6% in Tuesday morning trading while Intel shares are up 1.7%. Moore wrote that in a recent Nvidia note, he drew comparisons between Nvidia and high-growth software names to justify his price target. “As much as we like the longer-term growth story, that's simply not a comparison that we're totally comfortable with,” he said. On Intel, Moore wrote that consensus estimates seem low for the second-half of this year but “the growth deceleration implied by consensus numbers does imply significant risk to CY21.” He upgraded shares of Lam Research Corp. , Qualcomm Inc. , and Qorvo Inc. [s QRVO] to overweight from equal weight. Nvidia shares have added 84% over the past three months as Intel's stock has rallied 38%. The S&P 500 is up 32% in that time as the Dow Jones Industrial Average , of which Intel is a component, is up 31%.

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