US Stock Market Move | NVIDIA Corporation (NVDA.US) surged by over 80% in less than four months. Analysts warned of the risk of "overbuying."
On Friday, Nvidia (NVDA.US) opened high and then dropped nearly 1%, closing at $171.98.
On Friday, NVIDIA Corporation (NVDA.US) opened high but fell nearly 1%, closing at $171.98. On the news front, on Thursday, NVIDIA Corporation's 14-day Relative Strength Index (RSI) once surpassed 80, reaching its highest level since June 2024 - when the price of NVIDIA Corporation dropped by over 20% in the following six weeks. With Trump's easing of trade policies and investors continuing to be bullish on the prospects of AI, NVIDIA Corporation surged by 83% in less than four months. BTIG's chief market technician analyst, Jonathan Krinsky, said: "It is indeed in overbought territory now. Although this does not mean a price reversal is imminent, it is a signal to be cautious. Market sentiment had already been leaning optimistic, and now it is almost at the edge of fervor."
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