NVIDIA stock upgraded to Sell Candidate.StockInvest.us, 5 days ago
The NVIDIA stock price gained 0.65% on the last trading day (Wednesday, 21st Sep 2022), rising from $131.76 to $132.61. During the last trading day the stock fluctuated 7.03% from a day low at $131.10 to a day high of $140.31. The price has risen in 6 of the last 10 days but is still down by -3.3% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 28 million more shares were traded than the day before. In total, 81 million shares were bought and sold for approximately $10.68 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, 29 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 $127.90 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the stock is expected to fall -10.82% during the next 3 months and, with a 90% probability hold a price between $114.06 and $161.12 at the end of this 3-month period.
A buy signal was issued from a pivot bottom point on Thursday, September 15, 2022, and so far it has risen 2.57%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The NVIDIA stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $160.40. On a fall, the stock will find some support from the short-term average at $131.72. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
NVIDIA finds support from accumulated volume at $131.98 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 $9.21 between high and low, or 7.03%. For the last week, the stock has had daily average volatility of 4.39%.
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.