NVIDIA stock upgraded to Strong Buy Candidate.

The NVIDIA stock price gained 4.18% on the last trading day (Monday, 1st May 2023), rising from $277.49 to $289.10. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.60% from a day low at $277.81 to a day high of $290.58. The price has risen in 7 of the last 10 days and is up by 7.07% 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, 28 million more shares were traded than the day before. In total, 57 million shares were bought and sold for approximately $16.36 billion.

Tigress Financial is very positive about NVDA and gave it a "" rating on Dec 09, 2022. The price target was set to 250.

The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 32.13% during the next 3 months and, with a 90% probability hold a price between $350.79 and $400.33 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. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $273.20 and $267.11. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 25, 2023, and so far it has risen 10.17%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

On the downside, the stock finds support just below today's level from accumulated volume at $264.68 and $257.25.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 $264.68. If this is broken, then the next support from accumulated volume will be at $257.25 and $236.64.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $12.77 between high and low, or 4.60%. For the last week the stock has had daily average volatility of 3.33%.

NVIDIA holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.