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On Monday NVIDIA stock price gained impressive 5.32%

StockInvest.us, 4 months ago

NVIDIA

The NVIDIA stock price gained 5.32% on the last trading day (Monday, 2nd May 2022), rising from $185.47 to $195.33. During the day the stock fluctuated 6.43% from a day low at $183.91 to a day high of $195.74. The price has fallen in 6 of the last 10 days and is down by -10.33% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 million more shares were traded than the day before. In total, 58 million shares were bought and sold for approximately $11.24 billion.

The last rating was given by Barclays on Apr 25, 2022. The price target was set to 199.02+1.98.Over the last 90 days, this security got 4 buy, 4 sell, and 1 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 $182.24 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the stock is expected to fall -12.30% during the next 3 months and, with a 90% probability hold a price between $159.83 and $238.49 at the end of this 3-month period.

NVIDIA

A buy signal was issued from a pivot bottom point on Wednesday, April 27, 2022, and so far it has risen 6.07%. 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. 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 $235.81. On a fall, the stock will find some support from the short-term average at $192.12. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

NVIDIA finds support from accumulated volume at $195.15 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $11.83 between high and low, or 6.43%. For the last week, the stock has had a daily average volatility of 6.86%.

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.

Check full NVIDIA forecast and analysis here.