To The Moon

The NVIDIA $NVIDIA Corp(NVDA)$ stock price gained 0.371% on Friday, 4th Aug 2023, rising from $445.15 to $446.80. During the last trading day the stock fluctuated 2.81% from a day low at $443.93 to a day high of $456.42. The price has risen in 6 of the last 10 days and is up by 0.84% 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, 4 million more shares were traded than the day before. In total, 36 million shares were bought and sold for approximately $15.90 billion.

Given the current short-term trend, the stock is expected to rise 55.59% during the next 3 months and, with a 90% probability hold a price between $695.17 and $798.79 at the end of this 3-month period.

NVDA Signals & Forecast

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 $456.21. On a fall, the stock will find some support from the long-term average at approximately $439.83. 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 is rising along with the price. This is considered to be a good technical signal. 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 Tuesday, July 18, 2023, and so far it has fallen -5.92%. 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

On the downside, the stock finds support just below today's level from accumulated volume at $401.11 and $379.80. 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 $401.11. If this is broken, then the next support from accumulated volume will be at $379.80 and $378.34.

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 $12.49 between high and low, or 2.81%. For the last week, the stock has had daily average volatility of 2.93%.

Our recommended stop-loss: $424.42 (-5.01%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 13 days ago.)

Trading Expectations (NVDA) For The Trading Day Of Monday 7th

For the trading day on Monday, 7th we expect NVIDIA Corporation to open at $449.05, and during the day (based on 14 day Average True Range), to move between $431.87 and $461.73, which gives a possible trading interval of +/-$14.93 (+/-3.34%) up or down from last closing price. If NVIDIA Corporation takes out the full calculated possible swing range there will be an estimated 6.69% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $454.69 (1.77%) than the support at $401.11 (10.23%), 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.

Insiders are negative selling more shares than they are buying in NVIDIA

In the last 100 trades there were 516.69 thousand shares bought and 1.18 million shares sold. The last trade was made 15 days ago by Lora Melissa who bough 0 shares. In general the insiders are selling more stocks than they buy. There can be a variety of reasons for this, but in general it can be considered as a negative signal.

Is NVIDIA Corporation stock A Buy?

Several short-term signals, along with a general good trend, are positive and 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.