Since the stock is closer to the resistance from accumulated volume at $139.37
If NVIDIA Corporation takes out the full calculated possible swing range there will be an estimated 10.43% move between the lowest and the highest trading price during the day. Which gives a possible trading interval of +/-$7.21 (+/-5.21%) up or down from last closing price. Trading Expectations For The Upcoming Trading Day Of Monday 31stįor the upcoming trading day on Monday, 31st we expect NVIDIA Corporation to open at $135.82, and during the day (based on 14 day Average True Range), There is a buy signal from a pivot bottom found 10 days ago.) (This stock has medium daily movements and this gives medium risk. For the last week, the stock has had daily average volatility of 5.45%. During the last day, the stock moved $7.89 between high and low, or 6.04%. This stock has average movements during the day and with good trading volume, the risk is considered to be medium. NVIDIA finds support from accumulated volume at $132.61 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested. This causes a divergence between volume and price and it may be an early warning. Volume fell during the last trading day despite gaining prices.
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Further rise is indicated until a new top pivot has been found. A buy signal was issued from a pivot bottom point on Friday, October 14, 2022, and so far it has risen 23.22%. A breakdown below any of these levels will issue sell signals.
On corrections down, there will be some support from the lines at $129.18 and $126.25. 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. The NVIDIA stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock.
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