Green day on Thursday for NVIDIA

The NVIDIA stock price gained 0.535% on the last trading day (Thursday, 21st Nov 2024), rising from $145.89 to $146.67. During the last trading day the stock fluctuated 8.66% from a day low at $140.70 to a day high of $152.89. The price has fallen in 6 of the last 10 days and is down by -1.48% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 132 million more shares were traded than the day before. In total, 390 million shares were bought and sold for approximately $57.26 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 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 31.65% during the next 3 months and, with a 90% probability hold a price between $176.68 and $203.64 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 $144.96 and $139.79. 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 Thursday, November 07, 2024, and so far it has fallen -1.48%. 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 $131.60 and $117.59.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 $117.59 and $116.91.

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 $12.19 between high and low, or 8.66%. For the last week, the stock has had daily average volatility of 4.64%.

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.