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The NVIDIA stock price gained 1.15% on the last trading day (Tuesday, 21st Mar 2023), rising from $259.00 to $261.99. It has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 3.98% from a day low at $253.81 to a day high of $263.92. The price has risen in 8 of the last 10 days and is up by 12.5% 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, 11 million more shares were traded than the day before. In total, 55 million shares were bought and sold for approximately $14.31 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 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 72.73% during the next 3 months and, with a 90% probability hold a price between $425.11 and $478.79 at the end of this 3-month period.
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 $249.46 and $228.66. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, February 21, 2023, and so far it has risen 26.84%. 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.
NVIDIA finds support from accumulated volume at $257.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $10.11 between high and low, or 3.98%. For the last week, the stock has had daily average volatility of 4.29%.
Since the NVIDIA has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
NVIDIA holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Check full NVIDIA forecast and analysis here.