Will NVDA's stock price go up tomorrow?
7/12/2024 08:25pm
**Nvidia's stock price is not expected to go up significantly tomorrow.** Here's the analysis to support this conclusion:
1. **Technical Indicators Suggest Limited Movement**: The MACD for NVDA is at -1.38, which indicates a bearish trend. The RSI is at 48.34, suggesting the stock is neither overbought nor oversold. The KDJ is at 77.45, which could indicate an oversold condition but does not strongly suggest an upward movement.
|Ticker|Name|MACD|KDJ|RSI|Date|code|market_code|
|---|---|---|---|---|---|---|---|
|NVDA.O|Nvidia|-1.3807|77.4537|48.3448|20240711|NVDA|185|
2. **Short-Term Forecast**: The forecast price for NVDA over the next ten trading days shows a slight increase, with the highest price forecast at $128.12 on July 24, 2024. This suggests a limited upward movement, with the current price already close to the high end of the forecast range.
|Ticker|Name|Forecast Price|Date|code|market_code|
|---|---|---|---|---|---|
|NVDA.O|Nvidia|127.44423826|20240712|NVDA|185|
|NVDA.O|Nvidia|127.75959361|20240715|NVDA|185|
|NVDA.O|Nvidia|127.66299636|20240716|NVDA|185|
|NVDA.O|Nvidia|127.64857061|20240717|NVDA|185|
|NVDA.O|Nvidia|127.63358866|20240718|NVDA|185|
|NVDA.O|Nvidia|127.7987888|20240719|NVDA|185|
|NVDA.O|Nvidia|127.79191481|20240722|NVDA|185|
|NVDA.O|Nvidia|128.09088131|20240723|NVDA|185|
|NVDA.O|Nvidia|128.12221691|20240724|NVDA|185|
|NVDA.O|Nvidia|128.0779576|20240725|NVDA|185|
3. **Analyst Ratings and Price Targets**: The average price target from Wall Street analysts is $138.50, with a high forecast of $200.00. This indicates a potential upside, but it is not guaranteed, as price targets are based on projections and can be influenced by a variety of factors.
4. **Market Sentiment and Volatility**: The sentiment is neutral, with 17 technical analysis indicators signaling bullish signals and 9 signaling bearish signals. The stock has experienced some volatility recently, with a 7.16% fluctuation on the last trading day. However, this does not necessarily indicate a clear upward or downward trend for tomorrow's trading session.
5. **Recent Performance and Analyst Actions**: NVDA has experienced a recent price drop of -5.57% on July 11, 2024. Despite this, there have been positive actions from analysts, such as Ben Reitzes of Melius Research reiterating a Buy rating and raising the price target to $160 from $125. This could provide some support for the stock price, but it may not be enough to drive a significant increase for tomorrow's trading session.
6. **Long-Term Outlook**: The long-term outlook for NVDA is positive, with some analysts predicting significant growth over the next few years. However, this does not guarantee immediate or short-term price increases.
In conclusion, while there is potential for NVDA's stock price to go up in the long term, based on the available data, it is not strongly indicated that the stock price will go up significantly tomorrow. Investors should consider these factors and their own investment horizon when making decisions.