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Green day on Wednesday for NVIDIA stock after gaining 0.65%

StockInvest.us, 4 months ago

NVIDIA

The NVIDIA stock price gained 0.65% on the last trading day (Wednesday, 12th Jan 2022), rising from $278.17 to $279.99. , and has now gained 4 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 3.58% from a day low at $276.08 to a day high of $285.95. The price has been going up and down for this period, and there has been a -6.67% loss for the last 2 weeks. Volume fell on the last day by -40 million shares and in total, 0 shares were bought and sold for approximately $0 . 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.

On Jan 06, 2022 "Truist" gave "$389.00 - $350.00" rating for NVDA. The price target was set to $281.78+2.1%.

The stock lies in the lower part of a very 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 $275.23 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 19.01% during the next 3 months and, with a 90% probability hold a price between $327.55 and $431.99 at the end of this 3-month period.

NVIDIA

A buy signal was issued from a pivot bottom point on Friday, January 07, 2022, and so far it has risen 2.76%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The NVIDIA stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $298.89. On a fall, the stock will find some support from the short-term average at $279.34. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

NVIDIA finds support from accumulated volume at $278.01 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $9.87 between high and low, or 3.58%. For the last week the stock has had a daily average volatility of 5.08%

NVIDIA holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Check full NVIDIA forecast and analysis here.