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The NVIDIA stock price gained 0.720% on the last trading day (Friday, 17th Mar 2023), rising from $255.41 to $257.25. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.85% from a day low at $256.68 to a day high of $263.99. The price has risen in 6 of the last 10 days and is up by 7.68% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 27 million more shares were traded than the day before. In total, 85 million shares were bought and sold for approximately $21.78 billion.
Morgan Stanley is very positive about NVDA and gave it a "$255.00 - $304.00" rating on Mar 17, 2023. The price target was changed from 255 to 304.Over the last 90 days, this security got 37 buy, 1 sell, and 0 hold ratings.
The stock lies in the middle of a 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 69.06% during the next 3 months and, with a 90% probability hold a price between $408.09 and $464.56 at the end of this 3-month period.
Mostly positive signals in the chart today. The NVIDIA stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $241.32 and $225.06. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, December 28, 2022, and so far it has risen 83.28%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy 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 $236.64 and $229.71.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 $236.64. If this is broken, then the next support from accumulated volume will be at $229.71 and $221.73.
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 $7.31 between high and low, or 2.85%. For the last week, the stock has had daily average volatility of 4.33%.
NVIDIA holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Check full NVIDIA forecast and analysis here.