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NVIDIA stock price ended on $201.88 on Friday after gaining 1.42%

StockInvest.us, 1 month ago

NVIDIA

The NVIDIA stock price gained 1.42% on the last trading day (Friday, 13th Aug 2021), rising from $199.05 to $201.88. , 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 1.83% from a day low at $198.51 to a day high of $202.14. The price has risen in 6 of the last 10 days and is up by 3.53% 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, 3 million more shares were traded than the day before. In total, 18 million shares were bought and sold for approximately $3.65 billion.

On August 12, 2021 "Evercore ISI" gave "$187.50 - $250.00" rating for NVDA. The price target was set to $198.80+0.9%.

The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 31.22% during the next 3 months and, with a 90% probability hold a price between $253.40 and $303.72 at the end of this 3-month period.

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 $201.47 and $197.85. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 months 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. A sell signal was issued from a pivot top point on Tuesday, July 06, 2021, and so far it has fallen -2.47%. Further fall is indicated until a new bottom pivot has been found.

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 $3.63 between high and low, or 1.83%. For the last week, the stock has had a daily average volatility of 2.38%.

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.