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.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
Read more
Comment
Sign in to post a comment
Moomoo Official Market Strategist
Investment strategist, featured on TV, radio, newspapers.
Follow on Twitter @JessicaDAmir
4407Followers
11Following
12KVisitors
Follow
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