NVIDIA stock price ended on $316.78 on Thursday after gaining 4.97%

The NVIDIA stock price gained 4.97% on the last trading day (Thursday, 18th May 2023), rising from $301.78 to $316.78. It 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 last trading day the stock fluctuated 4.97% from a day low at $303.20 to a day high of $318.28. The price has risen in 7 of the last 10 days and is up by 14.93% 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, 31 million more shares were traded than the day before. In total, 74 million shares were bought and sold for approximately $23.40 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 has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $316.41, a level that may pose a second chance to hit a runner. According to fan-theory $350.88 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

Mostly positive signals in the chart today. 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 $294.04 and $278.77. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 04, 2023, and so far it has risen 14.93%. 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.

On the downside, the stock finds support just below today's level from accumulated volume at $276.67 and $264.68.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 $276.67. If this is broken, then the next support from accumulated volume will be at $264.68 and $257.25.

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 $15.08 between high and low, or 4.97%. For the last week, the stock has had daily average volatility of 3.34%.

NVIDIA holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.