NVIDIA stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session

The NVIDIA stock price fell by -1.81% on the last day (Friday, 6th Dec 2024) from $145.06 to $142.44. During the last trading day the stock fluctuated 3.11% from a day low at $141.31 to a day high of $145.70. The price has been going up and down for this period, and there has been a -2.88% loss for the last 2 weeks. Volume has increased on the last day by 9 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 176 million shares were bought and sold for approximately $25.04 billion.

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

The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $138.52 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 26.46% during the next 3 months and, with a 90% probability hold a price between $175.18 and $201.67 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, 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 $140.73 and $141.78. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, November 07, 2024, and so far it has fallen -4.32%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

On the downside, the stock finds support just below today's level from accumulated volume at $131.60 and $119.14.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 $131.60. If this is broken, then the next support from accumulated volume will be at $119.14 and $116.91.

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 $4.39 between high and low, or 3.11%. For the last week, the stock has had daily average volatility of 2.52%.

NVIDIA holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.