NVIDIA stock upgraded to Strong Buy Candidate.

The NVIDIA stock price gained 0.90% on the last trading day (Tuesday, 16th May 2023), rising from $289.53 to $292.13. During the last trading day the stock fluctuated 3.59% from a day low at $288.35 to a day high of $298.70. The price has been going up and down for this period, and there has been a 3.56% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 15 million more shares were traded than the day before. In total, 44 million shares were bought and sold for approximately $12.94 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 27.63% during the next 3 months and, with a 90% probability hold a price between $356.57 and $400.24 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. 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 $288.13 and $276.36. 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 11.33%. 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.

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.

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 $10.35 between high and low, or 3.59%. For the last week, the stock has had daily average volatility of 2.77%.

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.