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The NVIDIA stock price gained 4.06% on the last trading day (Friday, 5th May 2023), rising from $275.62 to $286.80. During the last trading day the stock fluctuated 3.69% from a day low at $277.32 to a day high of $287.55. The price has been going up and down for this period, and there has been a 5.76% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 35 million shares were bought and sold for approximately $9.96 billion.
Tigress Financial is very positive about NVDA and gave it a "" rating on Dec 09, 2022. The price target was set to 250.
The stock lies in the middle of a 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 33.28% during the next 3 months and, with a 90% probability hold a price between $357.05 and $391.62 at the end of this 3-month period.
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 $280.20 and $271.53. A breakdown below any of these levels will issue sell signals. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, May 01, 2023, and so far it has fallen -0.796%. Further fall is indicated until a new bottom pivot has been found.
On the downside, the stock finds support just below today's level from accumulated volume at $264.68 and $257.25.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 $264.68. If this is broken, then the next support from accumulated volume will be at $257.25 and $236.64.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $10.23 (3.69%) between high and low. For the last week, the stock has had daily average volatility of 3.30%.
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for NVIDIA stock to perform well in the short-term.
Check full NVIDIA forecast and analysis here.