NVIDIA stock price up 1.56% on TuesdayStockInvest.us, 1 month ago
The NVIDIA stock price gained 1.56% on the last trading day (Tuesday, 29th Mar 2022), rising from $282.19 to $286.59. , and has now gained 3 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 day the stock fluctuated 3.33% from a day low at $279.90 to a day high of $289.22. The price has risen in 7 of the last 10 days and is up by 24.75% 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, 17 million shares were bought and sold for approximately $5.01 billion.
On Mar 07, 2022 "The Goldman Sachs Group" gave "$245.00" rating for NVDA. The price target was changed from $213.52 to 6.9%.
Given the current short-term trend, the stock is expected to fall -7.85% during the next 3 months and, with a 90% probability hold a price between $186.72 and $264.09 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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 $273.73 and $246.20. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, January 27, 2022, and so far it has risen 30.60%. 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 $281.50 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 $9.32 between high and low, or 3.33%. For the last week, the stock has had a daily average volatility of 4.89%.
NVIDIA holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.Check full NVIDIA forecast and analysis here.