NVIDIA stock upgraded from Strong Sell Candidate to Sell Candidate after Tuesday trading session.

StockInvest.us, 2 months ago

NVIDIA

The NVIDIA stock price gained 1.51% on the last trading day (Tuesday, 27th Sep 2022), rising from $122.28 to $124.13. During the last trading day the stock fluctuated 3.90% from a day low at $122.58 to a day high of $127.36. The price has fallen in 6 of the last 10 days and is down by -5.47% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 695 thousand more shares were traded than the day before. In total, 55 million shares were bought and sold for approximately $6.86 billion.

The last rating was given by BMO Capital on Sep 21, 2022. The price target was changed from 230 to 210.Over the last 90 days, this security got 1 buy, 28 sell, and 0 hold ratings.

The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $121.75 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the stock is expected to fall -16.24% during the next 3 months and, with a 90% probability hold a price between $101.98 and $144.50 at the end of this 3-month period.

NVIDIA

There are mixed signals in the stock today. The NVIDIA stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $127.91 and $153.21. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Monday, September 26, 2022, and so far it has risen 1.51%. 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 $122.28 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 $4.78 between high and low, or 3.90%. For the last week, the stock has had daily average volatility of 4.65%.

NVIDIA holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.

Check full NVIDIA forecast and analysis here.