Strong day for NVIDIA stock price on Thursday rising 5.42% to $255.41

The NVIDIA stock price gained 5.42% on the last trading day (Thursday, 16th Mar 2023), rising from $242.28 to $255.41. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 7.09% from a day low at $238.94 to a day high of $255.88. The price has risen in 6 of the last 10 days and is up by 9.55% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 million more shares were traded than the day before. In total, 58 million shares were bought and sold for approximately $14.85 billion.

Susquehanna is very positive about NVDA and gave it a "" rating on Mar 09, 2023. The price target was set to 265.Over the last 90 days, this security got 34 buy, 1 sell, and 0 hold ratings.

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 67.75% during the next 3 months and, with a 90% probability hold a price between $401.39 and $457.39 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 $239.11 and $223.37. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, December 28, 2022, and so far it has risen 81.97%. 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 $236.64 and $229.71.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 $236.64. If this is broken, then the next support from accumulated volume will be at $229.71 and $221.73.

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 $16.94 between high and low, or 7.09%. For the last week, the stock has had daily average volatility of 4.55%.

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.