Green day on Wednesday for NVIDIA stock after gaining 3.73%StockInvest.us, 1 year ago
The NVIDIA stock price gained 3.73% on the last trading day (Wednesday, 4th May 2022), rising from $196.02 to $203.34. , 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 8.79% from a day low at $187.51 to a day high of $204.00. The price has been going up and down for this period, and there has been a -5.34% 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, 18 million more shares were traded than the day before. In total, 66 million shares were bought and sold for approximately $13.33 billion.
Morgan Stanley is very positive about NVDA and gave it a "" rating on May 03, 2022. The price target was set to 196.02+0.35.Over the last 90 days, this security got 5 buy, 4 sell, and 1 hold ratings.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -14.22% during the next 3 months and, with a 90% probability hold a price between $154.79 and $229.93 at the end of this 3-month period.
A buy signal was issued from a pivot bottom point on Wednesday, April 27, 2022, and so far it has risen 10.42%. 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). 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 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 $234.56. On a fall, the stock will find some support from the short-term average at $192.86. 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.
NVIDIA finds support from accumulated volume at $201.83 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 $16.49 between high and low, or 8.79%. For the last week, the stock has had a daily average volatility of 7.18%.
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.