NVIDIA stock price up 4.45% on Friday

The NVIDIA stock price gained 4.45% on the last trading day (Friday, 3rd Jan 2025), rising from $138.31 to $144.47. During the last trading day the stock fluctuated 3.67% from a day low at $139.77 to a day high of $144.90. The price has risen in 7 of the last 10 days and is up by 12.07% 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, 29 million more shares were traded than the day before. In total, 220 million shares were bought and sold for approximately $31.85 billion.

On Nov 22, 2024, it was reported that Jefferies gave NVDA a "Buy" grade with a "hold" action.

The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect NVIDIA stock with a 90% probability to be traded between $130.27 and $151.01 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stock seldom manage to go directly from the bottom of a trend up to the top. Stock turning up in the middle of a horizontal trend are therefore considered to be potential runners.

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, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $138.82 and $139.07. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, December 18, 2024, and so far it has risen 12.07%. 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.

On the downside, the stock finds support just below today's level from accumulated volume at $136.93 and $131.60.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 $136.93. If this is broken, then the next support from accumulated volume will be at $131.60 and $127.72.

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 $5.13 between high and low, or 3.67%. For the last week, the stock has had daily average volatility of 3.57%.

Several short-term signals 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 period.