Jun 6, 2024
Big day for Nvidia on Wednesday, crossing the $3-Trillion market
cap threshold to become the second-biggest company in the
S&P...and surpassing Apple in market capitalization. Nvidia is
now trading well beyond three standard deviations above its 50-DMA.
The last time Nvidia was this extended, back in March, it spent
quite a bit of time afterward declining as it worked off the
overbought positions. We look at the technical analysis behind this
stock. Everyone that is AI-related is where the money is going for
now, but at some point this is all going to have to be worked
off.
[DISCLOSURE: We are long on Nvidia.]
Hosted by RIA Chief Investment Strategist, Lance Roberts,
CIO
Produced by Brent Clanton, Executive Producer
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Watch the video version of this podcast:
https://www.youtube.com/watch?v=dCYSYtjM3MA&list=PLwNgo56zE4RAbkqxgdj-8GOvjZTp9_Zlz&index=1
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Contact Us: 1-855-RIA-PLAN
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