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The NVIDIA stock price gained 0.704% on the last trading day (Monday, 18th Mar 2024), rising from $878.37 to $884.55. During the last trading day the stock fluctuated 6.11% from a day low at $870.85 to a day high of $924.05. The price has been going up and down for this period, and there has been a 3.78% gain 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, 913 thousand more shares were traded than the day before. In total, 64 million shares were bought and sold for approximately $56.65 billion.
On Mar 13, 2024, it was reported that Benchmark gave NVDA a "Buy" grade with a "hold" action.
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 90.81% during the next 3 months and, with a 90% probability hold a price between $1,554.73 and $1,872.17 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 $886.20. On a fall, the stock will find some support from the long-term average at approximately $769.42. 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. 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 Thursday, March 07, 2024, and so far it has fallen -4.55%. Further fall is indicated until a new bottom pivot has been found.
NVIDIA finds support from accumulated volume at $875.28 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $53.20 between high and low, or 6.11%. For the last week, the stock has had daily average volatility of 4.95%.
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.