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Green day on Thursday for NVIDIA stock after gaining 1.09%

StockInvest.us, 2 months ago

NVIDIA

The NVIDIA stock price gained 1.09% on the last trading day (Thursday, 28th Jul 2022), rising from $177.90 to $179.84. , and has now gained 3 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 day the stock fluctuated 4.01% from a day low at $174.40 to a day high of $181.40. The price has risen in 7 of the last 10 days and is up by 16.99% over the past 2 weeks. Volume fell on the last day by -10 million shares and in total, 47 million shares were bought and sold for approximately $8.50 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The last rating was given by Barclays on Jul 25, 2022. The price target was changed from 295 to 200.Over the last 90 days, this security got 2 buy, 27 sell, and 0 hold ratings.

The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $178.54, a level that may pose a second chance to hit a runner. According to fan-theory $218.91 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

NVIDIA

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 $175.01 and $163.27. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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, July 21, 2022, and so far it has fallen -0.37%. Further fall is indicated until a new bottom pivot has been found.

NVIDIA finds support from accumulated volume at $178.51 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $7.00 between high and low, or 4.01%. For the last week, the stock has had a daily average volatility of 4.09%.

Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.

Check full NVIDIA forecast and analysis here.