Nvidia is more overbought than hot launches. It seems NVDA could pull back before moving higher
I love Nvidia $NVIDIA (NVDA.US)$. But the technical indicators tell me it's more overbought than hot launches. So I think its shares could pull back before moving higher.
That is, if history repeats itself. The last four times I saw the relative strength index (RSI) this high, Nvidia's stock pulled back 10.1% on average before moving up again. Don't believe me? Just look at the chart....
So consider this...
- If you regretted not buying Microsoft $Microsoft (MSFT.US)$ 1, 2, 3 or 5 years ago, just ask yourself IF you will regret not buying Nvidia $NVIDIA (NVDA.US)$ in 2, 3, or 5 from now.
- Without Nvidia chips, Microsoft $Microsoft (MSFT.US)$ Meta $Meta Platforms (META.US)$ Amazon $Amazon (AMZN.US)$Alphabet $Alphabet-C (GOOG.US)$ are not able to develop and grow their AI functionality and businesses.
For more... stay tuned to moomoo and folllow me on Twitter.
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Jessicamerica : Nvidia is more valuable than SMCI. It’ll run up another $100 next week
UrMomsBoyfriend : The whole market is going to have a sizable correction, we smell it in the air! #NVDA is overbought!
NoahK : Exactly my thought.
readme1221 : Overbought won't necessarily be an immediate pullback. Check out smci