NVIDIA stock price ended on $198.15 on Tuesday after gaining 0.33%StockInvest.us, 2 months ago
The NVIDIA stock price gained 0.33% on the last trading day (Tuesday, 3rd Aug 2021), rising from $197.50 to $198.15. , 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 5.21% from a day low at $192.20 to a day high of $202.22. The price has risen in 6 of the last 10 days and is up by 6.46% 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, 8 million more shares were traded than the day before. In total, 30 million shares were bought and sold for approximately $5.96 billion.
On July 23, 2021 "Argus" gave "$175.00 - $230.00" rating for NVDA. The price target was set to $195.94+0.9%.Over the last 30 days, this security got 4 buy, 0 sell, and 0 hold ratings.
The stock lies in the lower part of a 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 $194.45 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 41.89% during the next 3 months and, with a 90% probability hold a price between $275.91 and $324.06 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 $195.33 and $194.19. A breakdown below any of these levels will issue sell signals. 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 Tuesday, July 06, 2021, and so far it has fallen -4.27%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD).
On the downside, the stock finds support just below today's level from accumulated volume at $187.80 and $186.57.There is 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 $187.80. If this is broken, then the next support from accumulated volume will be at $186.57 and $186.39.
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 $10.02 between high and low, or 5.21%. For the last week, the stock has had a daily average volatility of 3.27%.
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.Check full NVIDIA forecast and analysis here.