Sign In
The NVIDIA stock price gained 7.09% on the last trading day (Monday, 14th Aug 2023), rising from $408.55 to $437.53. During the last trading day the stock fluctuated 8.65% from a day low at $403.12 to a day high of $438.00. The price has fallen in 6 of the last 10 days and is down by -6.37% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 13 million more shares were traded than the day before. In total, 66 million shares were bought and sold for approximately $28.92 billion.
Tigress Financial is very positive about NVDA. The price target was set to 250 (Dec 09, 2022).
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 34.70% during the next 3 months and, with a 90% probability hold a price between $553.20 and $694.57 at the end of this 3-month period.
There are mixed signals in the stock today. The NVIDIA stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $440.46. On a fall, the stock will find some support from the short-term average at $434.73. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, July 18, 2023, and so far it has fallen -7.88%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
On the downside, the stock finds support just below today's level from accumulated volume at $401.11 and $379.80.There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, NVIDIA finds support just below today's level at $401.11. If this is broken, then the next support from accumulated volume will be at $379.80 and $378.34.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $34.88 between high and low, or 8.65%. For the last week, the stock has had daily average volatility of 4.81%.
NVIDIA holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Check full NVIDIA forecast and analysis here.