$168.68 (-2.03%)

Volume: 31.442M

Closed: Dec 02, 2022

Hollow Logo Score: 0.887

NVIDIA Stock Forecast

$168.68 (-2.03%)

Volume: 31.442M

Closed: Dec 02, 2022

Score Hollow Logo 0.887
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSI min/max Values: [ 25 - 75 ]
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NVIDIA stock downgraded to Hold/Accumulate
(Updated on Dec 02, 2022)


Buy or Hold candidate since 2022-11-23 Gain 2.19% PDF

The NVIDIA stock price fell by -2.03% on the last day (Friday, 2nd Dec 2022) from $172.17 to $168.68. During the last trading day the stock fluctuated 2.96% from a day low at $164.45 to a day high of $169.33. The price has fallen in 6 of the last 10 days but is still up by 8.38% over the past 2 weeks. 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 -8 million shares and in total, 31 million shares were bought and sold for approximately $5.30 billion.

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The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $172.76 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 26.59% during the next 3 months and, with a 90% probability hold a price between $167.31 and $218.69 at the end of this 3-month period.

NVDA Signals & Forecast

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 $164.14 and $144.64. 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 Thursday, December 01, 2022, and so far it has fallen -2.03%. 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.

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Support, Risk & Stop-loss for NVIDIA stock

On the downside, the stock finds support just below today's level from accumulated volume at $132.61 and $131.76. 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 $132.61. If this is broken, then the next support from accumulated volume will be at $131.76 and $131.31.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $4.88 between high and low, or 2.96%. For the last week, the stock has had daily average volatility of 4.02%.

Our recommended stop-loss: $160.80 (-4.67%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 1 days ago.)

Trading Expectations (NVDA) For The Upcoming Trading Day Of Monday 5th

For the upcoming trading day on Monday, 5th we expect NVIDIA Corporation to open at $167.49, and during the day (based on 14 day Average True Range), to move between $161.53 and $175.83, which gives a possible trading interval of +/-$7.15 (+/-4.24%) up or down from last closing price. If NVIDIA Corporation takes out the full calculated possible swing range there will be an estimated 8.48% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $172.17 (2.07%) than the support at $132.61 (21.38%), 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?

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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.

Current score: 0.887 Open Broker Account

Hold/Accumulate Downgraded

Predicted Opening Price for NVIDIA Corporation of Monday, December 5, 2022

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Fair opening price December 5, 2022 Current price
$167.49 $168.68 (Overvalued)

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Fibonacci Support & Resistance Levels

Level Price Change
Resistance 172.36 2.18 %
170.50 1.08 %
169.35 0.396 %
Current price: 168.68
Support 165.62 -1.81 %
164.47 -2.49 %
162.61 -3.60 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 0 .
0 .
172.17 2.07 %
Current price 168.68
Support 132.61 -21.38%
131.76 -21.89%
131.31 -22.15%

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About NVIDIA Corporation

NVIDIA NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms fo... NVDA Profile

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