Nvidia Stock (NVDA) Up 36% YTD, Technical Indicators Still Suggest a 'Buy'
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Analyzing NVDA Stock's Technical Indicators
According to TipRanks' easy-to-understand technical analysis tool, Nvidia stock is currently on an upward trend. The Moving Average Convergence Divergence (MACD) indicator, which helps understand momentum and potential price changes, signals a Buy.
Further, the stock's 50-day Exponential Moving Average (EMA) is 164.53, while its price is $182.01, implying a bullish signal. Also, its shorter-duration EMA (20 days) signals an uptrend.
Moreover, the Rate of Change (ROC) is a momentum-based technical indicator. It measures the percentage change in a stock's price between the current price and the price from a specific number of periods ago. Typically, a ROC above zero confirms an uptrend. NVDA stock currently has an ROC of 2.09, which signals a Buy.
Another technical indicator, Williams %R, helps traders see if a stock is overbought or oversold. For Nvidia, Williams %R currently shows a Buy signal, suggesting the stock is not overbought and has room to run.
Is NVDA Stock a Good Buy?
Turning to Wall Street, Nvidia has a Strong Buy consensus rating based on 35 Buys, two Holds, and one Sell assigned in the last three months. At $192.62, the average NVDA stock price target implies a 5.83% upside potential.
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