NVDA Remains Strong But Looks Overbought In The Short Term
António Costa | Apr 04, 2016 01:46AM ET
After a long rally that brought prices from the February low of $24.66 to Wednesday highs of $36.25, NVIDIA Corporation (NASDAQ:NVDA) has gained nearly 45 percent. Can we open long positions now? Aggressive traders may open long positions, and I really like the daily technical chart, but at this level I would wait for a pull back before putting any cash to work. On the technical side, the stock is overbought on RSI and stretched. Play with tight stops.
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