NVIDIA stock upgraded to Strong Buy Candidate.

The NVIDIA stock price gained 1.07% on the last trading day (Tuesday, 19th Mar 2024), rising from $884.55 to $893.98. During the last trading day the stock fluctuated 6.50% from a day low at $850.12 to a day high of $905.37. The price has been going up and down for this period, and there has been a 3.99% 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, 2 million more shares were traded than the day before. In total, 67 million shares were bought and sold for approximately $59.47 billion.

On Mar 19, 2024, it was reported that Wedbush gave NVDA a "Outperform" grade with a "hold" action.

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 90.96% during the next 3 months and, with a 90% probability hold a price between $1,573.51 and $1,889.66 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 $888.87 and $777.11. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -3.53%. Further fall is indicated until a new bottom pivot has been found.

NVIDIA finds support from accumulated volume at $875.28 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 $55.25 between high and low, or 6.50%. For the last week, the stock has had daily average volatility of 4.91%.

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.