NVIDIA Stock Forecast
Green day on Tuesday for NVIDIA stock after gaining 3.65%
(Updated on Apr 23, 2024)
The NVIDIA stock price gained 3.65% on the last trading day (Tuesday, 23rd Apr 2024), rising from $795.18 to $824.23. During the last trading day the stock fluctuated 3.12% from a day low at $802.64 to a day high of $827.69. The price has risen in 6 of the last 10 days but is still down by -3.43% for this period. Volume fell on the last day by -16 million shares and in total, 43 million shares were bought and sold for approximately $35.43 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 lies in the middle of a very 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 35.21% during the next 3 months and, with a 90% probability hold a price between $1,042.08 and $1,402.32 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
NVDA Signals & Forecast
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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The NVIDIA stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $828.95 and $880.75. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -13.24%. 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).
Support, Risk & Stop-loss for NVIDIA stock
NVIDIA finds support from accumulated volume at $788.17 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 $25.05 between high and low, or 3.12%. For the last week, the stock has had daily average volatility of 5.96%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NVDA) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect NVIDIA Corporation to open at $818.19, and during the day (based on 14 day Average True Range), to move between $784.97 and $863.49, which gives a possible trading interval of +/-$39.26 (+/-4.76%) up or down from last closing price. If NVIDIA Corporation takes out the full calculated possible swing range there will be an estimated 9.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $857.74 (4.07%) than the support at $788.17 (4.37%), 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?
The NVIDIA stock holds several negative signals and despite the positive trend, we believe NVIDIA will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.534 Sell Candidate Unchanged
Predicted Opening Price for NVIDIA Corporation of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $818.19 ( 0.733%) | $824.23 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 843.24 | 2.31 % | |
| R2 | 833.67 | 1.14 % | ||
| R1 | 827.76 | 0.428 % | ||
| Current price: | 824.23 | |||
| Support | S1 | 808.62 | -1.89 % | |
| S2 | 802.71 | -2.61 % | ||
| S3 | 793.14 | -3.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 893.98 | 8.46 % | |
| R2 | 875.28 | 6.19 % | ||
| R1 | 857.74 | 4.07 % | ||
| Current price | 824.23 | |||
| Support | S1 | 788.17 | -4.37% | |
| S2 | 785.38 | -4.71% | ||
| S3 | 762.00 | -7.55% |
NVDA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Mar 05, 2024 | Mar 27, 2024 | $0.0400 | 0.0044% |
| 2 | Nov 21, 2023 | Dec 05, 2023 | Dec 28, 2023 | $0.0400 | 0.0081% |
| 3 | Aug 23, 2023 | Sep 06, 2023 | Sep 28, 2023 | $0.0400 | 0.0093% |
| 4 | May 24, 2023 | Jun 07, 2023 | Jun 30, 2023 | $0.0400 | 0.0095% |
| 5 | Feb 22, 2023 | Mar 07, 2023 | Mar 29, 2023 | $0.0400 | 0.0148% |
FAQ
Click here for our free guide on how to buy NVIDIA Stock.
