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The NVIDIA stock price gained 3.34% on the last trading day (Tuesday, 13th Dec 2022), rising from $174.17 to $179.99. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 6.09% from a day low at $177.11 to a day high of $187.90. The price has risen in 7 of the last 10 days and is up by 15.34% 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, 19 million more shares were traded than the day before. In total, 56 million shares were bought and sold for approximately $10.03 billion.
The last rating was given by Tigress Financial on Dec 09, 2022. The price target was changed from 310 to 250.Over the last 90 days, this security got 6 buy, 11 sell, and 1 hold ratings.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $183.35 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 41.96% during the next 3 months and, with a 90% probability hold a price between $209.45 and $260.29 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 $168.90 and $154.31. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, December 06, 2022, and so far it has risen 13.68%. Further rise is indicated until a new top pivot has been found. 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. 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 $157.21 and $155.63.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 $157.21. If this is broken, then the next support from accumulated volume will be at $155.63 and $141.56.
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 $10.79 between high and low, or 6.09%. For the last week, the stock has had daily average volatility of 4.75%.
Since the NVIDIA has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
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.