NVIDIA stock price up more than 5.53% on Tuesday

The NVIDIA stock price gained 5.53% on the last trading day (Tuesday, 19th Jul 2022), rising from $161.01 to $169.92. , and has now gained 6 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 day the stock fluctuated 5.80% from a day low at $161.72 to a day high of $171.10. The price has risen in 7 of the last 10 days and is up by 13.55% 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, 3 million more shares were traded than the day before. In total, 70 million shares were bought and sold for approximately $11.89 billion.

The last rating was given by Baird on Jul 14, 2022. The price target was changed from 165 to 150.Over the last 90 days, this security got 2 buy, 26 sell, and 0 hold ratings.

The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $172.95 will firstly indicate a slower falling rate, but may be the first sign of a trend shift.Given the current short-term trend, the stock is expected to fall -19.98% during the next 3 months and, with a 90% probability hold a price between $109.98 and $138.40 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, 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 $156.61 and $165.90. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, July 01, 2022, and so far it has risen 17.00%. 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 $169.75 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 $9.38 between high and low, or 5.80%. For the last week, the stock has had a daily average volatility of 4.98%.

Since the NVIDIA has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.

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.