NVIDIA stock price up 0.335% on Thursday

The NVIDIA stock price gained 0.335% on the last trading day (Thursday, 14th Nov 2024), rising from $146.27 to $146.76. During the last trading day the stock fluctuated 2.31% from a day low at $145.55 to a day high of $148.91. The price has risen in 7 of the last 10 days and is up by 10.55% 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, 17 million more shares were traded than the day before. In total, 183 million shares were bought and sold for approximately $26.87 billion.

On Oct 30, 2024, it was reported that Morgan Stanley gave NVDA a "Equal-Weight" grade with a "hold" action.

The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $151.31 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 25.97% during the next 3 months and, with a 90% probability hold a price between $159.62 and $190.61 at the end of this 3-month period.

The NVIDIA stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $146.96. On a fall, the stock will find some support from the long-term average at approximately $136.35. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Thursday, November 07, 2024, and so far it has fallen -1.42%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

On the downside, the stock finds support just below today's level from accumulated volume at $131.60 and $117.59.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 $131.60. If this is broken, then the next support from accumulated volume will be at $117.59 and $116.91.

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 $3.36 between high and low, or 2.31%. 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.