NVIDIA stock price up more than 5.43% on Tuesday

The NVIDIA stock price gained 5.43% on the last trading day (Tuesday, 14th Feb 2023), rising from $217.88 to $229.71. It 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 last trading day the stock fluctuated 7.88% from a day low at $213.66 to a day high of $230.49. The price has risen in 7 of the last 10 days and is up by 17.58% 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, 20 million more shares were traded than the day before. In total, 67 million shares were bought and sold for approximately $15.42 billion.

Truist Securities is very positive about NVDA and gave it a "$198.00 - $238.00" rating on Jan 23, 2023. The price target was changed from 198 to 238.Over the last 90 days, this security got 9 buy, 5 sell, and 1 hold ratings.

Given the current short-term trend, the stock is expected to rise 33.04% during the next 3 months and, with a 90% probability hold a price between $226.55 and $305.61 at the end of this 3-month period.

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 $219.75 and $181.61. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, December 28, 2022, and so far it has risen 63.66%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

NVIDIA finds support from accumulated volume at $221.73 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 $16.83 between high and low, or 7.88%. For the last week, the stock has had daily average volatility of 5.43%.

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.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.