Red day on Wednesday for NVIDIAStockInvest.us, 1 month ago
The NVIDIA stock price fell by -2.88% on the last day (Wednesday, 17th Aug 2022) from $188.79 to $183.35. and has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.99% from a day low at $181.45 to a day high of $186.88. The price has fallen in 6 of the last 10 days and is down by -2.95% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -596 thousand shares and in total, 45 million shares were bought and sold for approximately $8.17 billion.
The last rating was given by Susquehanna on Aug 09, 2022. The price target was changed from 220 to 210.Over the last 90 days, this security got 1 buy, 28 sell, and 0 hold ratings.
The stock lies in the middle of a very 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 4.19% during the next 3 months and, with a 90% probability hold a price between $155.68 and $210.16 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 $182.97 and $170.64. A breakdown below any of these levels will issue sell signals. 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 Monday, August 15, 2022, and so far it has fallen -3.66%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
NVIDIA finds support from accumulated volume at $178.51 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 $5.43 between high and low, or 2.99%. For the last week, the stock has had a daily average volatility of 3.67%.
NVIDIA holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.Check full NVIDIA forecast and analysis here.