NVIDIA stock price ended on $288.85 on Wednesday after gaining 1.1%

The NVIDIA stock price gained 1.10% on the last trading day (Wednesday, 10th May 2023), rising from $285.71 to $288.85. During the last trading day the stock fluctuated 2.28% from a day low at $284.63 to a day high of $291.13. The price has risen in 6 of the last 10 days and is up by 7.16% 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, 7 million more shares were traded than the day before. In total, 36 million shares were bought and sold for approximately $10.46 billion.

Tigress Financial is very positive about NVDA and gave it a "" rating on Dec 09, 2022. The price target was set to 250.

The stock lies in the middle of a 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 31.48% during the next 3 months and, with a 90% probability hold a price between $356.12 and $386.36 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 $284.09 and $274.04. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, May 08, 2023, and so far it has fallen -0.91%. 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 $264.68 and $257.25.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 $264.68. If this is broken, then the next support from accumulated volume will be at $257.25 and $236.64.

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 $6.50 between high and low, or 2.28%. For the last week, the stock has had daily average volatility of 2.63%.

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.