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The NVIDIA stock price gained 0.479% on the last trading day (Wednesday, 22nd Feb 2023), rising from $206.55 to $207.54. During the last trading day the stock fluctuated 3.34% from a day low at $204.21 to a day high of $211.04. The price has been going up and down for this period, and there has been a -6.4% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 43 million shares were bought and sold for approximately $9.01 billion.
Keybanc is very positive about NVDA and gave it a "$220.00 - $280.00" rating on Feb 17, 2023. The price target was changed from 220 to 280.Over the last 90 days, this security got 9 buy, 2 sell, and 0 hold ratings.
The stock lies in the middle of a very 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 39.73% during the next 3 months and, with a 90% probability hold a price between $249.18 and $328.76 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 $217.60. On a fall, the stock will find some support from the long-term average at approximately $191.60. 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 Tuesday, February 14, 2023, and so far it has fallen -9.65%. 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 $191.93 and $180.72.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 $191.93. If this is broken, then the next support from accumulated volume will be at $180.72 and $169.23.
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 $6.83 between high and low, or 3.34%. For the last week, the stock has had daily average volatility of 3.49%.
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.