Green day on Monday for NVIDIA

The NVIDIA stock price gained 0.275% on the last trading day (Monday, 2nd Dec 2024), rising from $138.25 to $138.63. During the last trading day the stock fluctuated 1.90% from a day low at $137.83 to a day high of $140.45. The price has been going up and down for this period, and there has been a -2.36% loss 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, 17 million more shares were traded than the day before. In total, 158 million shares were bought and sold for approximately $21.94 billion.

On Oct 30, 2024, it was reported that Morgan Stanley gave NVDA a "Equal-Weight" grade with a "hold" action.

The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $136.57 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 32.39% during the next 3 months and, with a 90% probability hold a price between $180.81 and $210.16 at the end of this 3-month period.

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. The NVIDIA stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $139.11 and $140.91. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, November 07, 2024, and so far it has fallen -6.88%. 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).

On the downside, the stock finds support just below today's level from accumulated volume at $131.60 and $116.91.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 $131.60. If this is broken, then the next support from accumulated volume will be at $116.91 and $108.00.

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 $2.63 between high and low, or 1.90%. For the last week, the stock has had daily average volatility of 2.85%.

The NVIDIA stock holds several negative signals and despite the positive trend, we believe NVIDIA will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.