NVIDIA stock upgraded from Sell Candidate to Buy Candidate after Friday trading session
StockInvest.us, 4 weeks ago
The NVIDIA stock price gained 3.10% on the last trading day (Friday, 17th Jan 2025), rising from $133.57 to $137.71. During the last trading day the stock fluctuated 2.24% from a day low at $135.47 to a day high of $138.50. The price has fallen in 6 of the last 10 days and is down by -0.43% for this period. Volume fell on the last day by -7 million shares and in total, 199 million shares were bought and sold for approximately $27.37 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
On Jan 13, 2025, it was reported that HSBC gave NVDA a "Buy" grade with a "hold" action.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -4.18% during the next 3 months and, with a 90% probability hold a price between $125.95 and $142.37 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, 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 $135.50 and $137.51. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, January 14, 2025, and so far it has risen 4.52%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
NVIDIA finds support from accumulated volume at $136.02 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 $3.03 between high and low, or 2.24%. For the last week, the stock has had daily average volatility of 3.60%.
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Check full NVIDIA forecast and analysis here.