NVDA Uptrend

Amazon will be releasing their own tablet later this year, as soon as October, and as late as December just in time for Christmas. Tablet will be running on NVDIA Tegra 2 processor.  Amazon with 90 million customers, can easily market tablet and compete with Apple.  With Amazon App Store and streaming video already in place, this tablet could easily takeoff.  You can read more about it on Wall Street Journal. 

So let's take a look at NVDA.  Since May of this year, NVDA has been gradually descending to $13.80 level from $18.30.  Last week gain some momentum to $15, and this week back down to $13.80 level again.  Hitting the bottom twice within a week span.  With three month of decline and ending the month on a low, NVDA is setting up to move up.  Resistant at $16 and $20 level and support at $17.