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$180.97 (5.92%)

Volume: 59.506M

Closed: Aug 10, 2022

Hollow Logo Score: 1.409

NVIDIA Stock Forecast

BUY NASDAQ:NVDA
$180.97 (5.92%)

Volume: 59.506M

Closed: Aug 10, 2022

Score Hollow Logo 1.409
Which way will NVDA go? Request
Wed, Aug 10, 2022 Buy Candidate
* 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 ] RSI14 is 50 and the stock is currently not being overbought or oversold
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A very strong day for NVIDIA stock price on Wednesday
(Updated on Aug 10, 2022)


Buy candidate since 2022-08-10 PDF

The NVIDIA stock price gained 5.92% on the last trading day (Wednesday, 10th Aug 2022), rising from $170.86 to $180.97. During the last trading day the stock fluctuated 4.63% from a day low at $173.17 to a day high of $181.18. The price has risen in 7 of the last 10 days and is up by 1.73% over the past 2 weeks. Volume fell on the last day by -7 million shares and in total, 60 million shares were bought and sold for approximately $10.77 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect NVIDIA stock with a 90% probability to be traded between $146.08 and $196.17 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

Signals & Forecast

A sell signal was issued from a pivot top point on Thursday, August 04, 2022, and so far it has fallen -5.82%. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. The NVIDIA stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $183.71. On a fall, the stock will find some support from the long-term average at approximately $167.69. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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

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 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 $8.01 between high and low, or 4.63%. For the last week, the stock has had a daily average volatility of 4.10%.

Our recommended stop-loss: $171.27 (-5.36%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 4 days ago.)

Trading Expectations For The Upcoming Trading Day Of Thursday 11th

For the upcoming trading day on Thursday 11th we expect NVIDIA Corporation to open at $178.44, and during day (based on 14 day Average True Range), to move between $172.09 and $189.85, which gives a possible trading interval of +/-$8.88 (+/-4.90%) up or down from last closing price. If NVIDIA Corporation takes out the full calculated possible swing range there will be an estimated 9.81% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $178.51 (1.36%) than the resistance at $186.72 (3.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is NVIDIA Corporation stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 1.409

Buy Candidate Upgraded

Predicted Opening Price for NVIDIA Corporation of Thursday, August 11, 2022

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

Fair opening price August 11, 2022 Current price
$178.44 $180.97 (Overvalued)

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Fibonacci Support & Resistance Levels

Level Price Change
Resistance 186.45 3.03 %
183.39 1.34 %
181.50 0.29 %
Current price: 180.97
Support 175.38 -3.09 %
173.49 -4.13 %
170.43 -5.82 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 194.90 7.70 %
188.11 3.95 %
186.72 3.18 %
Current price 180.97
Support 178.51 -1.36%
177.93 -1.68%
169.75 -6.20%

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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... Read more

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