NVIDIA Stock Forecast
About Chart
Golden Star
The Golden Star is a refined bullish signal based on the Golden Cross, developed by Jim Stromberg, incorporating additional time frame-specific moving averages and precise price line crossings. This signal is effective for liquid stocks, highlighting short-term upward momentum.
Death Star
The Death Star, developed by Jim Stromberg, is the bearish counterpart to the Golden Star, serving as a sell signal. It is triggered by specific moving average crossings on the price line, indicating a likely prolonged decline in the stock.
Golden Cross
The Golden Cross is a bullish signal where the short-term moving average crosses above the long-term moving average, indicating potential upward momentum.
Death Cross
The Death Cross is a bearish signal where the short-term moving average crosses below the long-term moving average, indicating potential downward momentum.
Pivot Bottom
A Pivot Bottom is a significant low point identified by algorithms developed by StockInvest.us. While it may indicate a short-term directional change, it does not necessarily imply a complete trend reversal. Pivot Bottoms are marked as green circles on the price line.
Pivot Top
A Pivot Top represents a significant high point identified by algorithms developed by StockInvest.us. Similar to Pivot Bottoms, it may suggest a short-term directional change within the main trend, rather than a full trend reversal. Pivot Tops are marked as red circles on the price line.
RSI Oversold
RSI oversold indicates that a stock has declined significantly and may be undervalued, potentially presenting a buying opportunity. This condition is marked by a green line on the chart but should be confirmed with other indicators before taking action.
RSI Overbought
RSI overbought suggests that a stock has risen rapidly and may be due for a pullback. It is marked by a red line on the chart, signaling increased risk. This doesn’t necessarily mean it’s time to sell, but it’s important to monitor closely.
Accumulated Volume
The bars indicate how much stock has been traded on each price during the chart period.
Buy Signal (MA)
Buy signal from moving average indicating potential upward movement.
Sell Signal (MA)
Sell signal from moving average indicating potential downward movement.
AI Analysis of NVDA
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NVIDIA stock price ended at $132.89 on Tuesday, after gaining 4.05%
(Updated on Oct 08, 2024)
Buy candidate since Oct 03, 2024
Gain 8.17%
The stock has broken the very wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $130.38 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $161.38 sometime during the next 3 months.
NVDA Signals & Forecast
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 $123.67 and $119.19. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, September 06, 2024, and so far it has risen 29.23%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for NVIDIA stock
On the downside, the stock finds support just below today's level from accumulated volume at $109.21 and $107.27. 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 $109.21. If this is broken, then the next support from accumulated volume will be at $107.27 and $100.45.
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 $4.06 between high and low, or 3.14%. For the last week, the stock has had daily average volatility of 3.45%.
The NVIDIA stock is extremely overbought on RSI14 (76). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $127.83 (-3.81%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (NVDA) For The Upcoming Trading Day Of Wednesday 9th
For the upcoming trading day on Wednesday, 9th we expect NVIDIA Corporation to open at $131.93, and during the day (based on 14 day Average True Range), to move between $127.64 and $138.14, which gives a possible trading interval of +/-$5.25 (+/-3.95%) up or down from last closing price. If NVIDIA Corporation takes out the full calculated possible swing range there will be an estimated 7.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $134.91 (1.52%) than the support at $109.21 (17.82%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is NVIDIA Corporation stock A Buy?
Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for NVIDIA stock to perform well in the short-term period.
Current score:
4.417
Buy Candidate
Unchanged
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Predicted Fair Opening Price
Predicted fair opening price on October 9, 2024 - $131.93 ( 0.722%). The predicted opening price is based on yesterday's movements between high, low, and closing price.Trading levels for NVDA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 135.99 | 2.33% |
| R2 | 134.44 | 1.17% |
| R1 | 133.48 | 0.445% |
| Price | 132.89 | |
| S1 | 130.38 | -1.89% |
| S2 | 129.42 | -2.61% |
| S3 | 127.87 | -3.78% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 134.91 | 1.52% |
| Price | 132.89 | |
| S1 | 109.21 | -17.82% |
| S2 | 107.27 | -19.28% |
| S3 | 100.45 | -24.41% |
NVDA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 28, 2024 | Sep 12, 2024 | Oct 03, 2024 | $0.0100 | 0.0081% |
| 2 | May 22, 2024 | Jun 11, 2024 | Jun 28, 2024 | $0.0100 | 0.0081% |
| 3 | May 17, 2024 | May 29, 2024 | Jun 04, 2024 | $0.0400 | 0.0344% |
| 4 | Feb 21, 2024 | Mar 05, 2024 | Mar 27, 2024 | $0.0400 | 0.0443% |
| 5 | Nov 21, 2023 | Dec 05, 2023 | Dec 28, 2023 | $0.0400 | 0.0808% |
FAQ
Click here for our free guide on how to buy NVIDIA Stock.
