Red day on Friday for NVIDIA

The NVIDIA stock price fell by -2.09% on the last day (Friday, 27th Dec 2024) from $139.93 to $137.01. During the last trading day the stock fluctuated 3.20% from a day low at $134.71 to a day high of $139.02. The price has fallen in 6 of the last 10 days and is down by -0.24% for this period. Volume has increased on the last day by 55 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 169 million shares were bought and sold for approximately $23.21 billion.

On Nov 22, 2024, it was reported that Jefferies gave NVDA a "Buy" grade with a "hold" action.

The stock lies in the middle of a wide and weak 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 5.48% during the next 3 months and, with a 90% probability hold a price between $131.66 and $161.63 at the end of this 3-month period.

There are mixed signals in the stock today. 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 $140.09. On a fall, the stock will find some support from the short-term average at $135.87. 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. A sell signal was issued from a pivot top point on Thursday, November 07, 2024, and so far it has fallen -7.97%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).

NVIDIA finds support from accumulated volume at $136.93 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $4.31 between high and low, or 3.20%. For the last week, the stock has had daily average volatility of 3.35%.

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.