Chart of the Day: Is AI Already Priced In for Nvidia Investors?
The stock remains a favorite among big money investors, but hasn’t moved much lately. Here's what to watch going forward.
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The most talked-about technology revolution is AI and, no question, Nvidia (NVDA) is right in the middle of it. They are providing the needed chips and technology to help retool everyone to adapt to an AI world, one that promises to make us all better, efficient, smarter and quicker.
But all the promises that have been made to get us there by Nvidia and others may have been priced in, so what is the next act? Or is AI going to morph into something bigger? We'll find out soon enough.
In the meantime, a very long drawn-out base for Nvidia as the stock hovers between $175-190. That has been the range for several weeks, and as famed technician Louise Yamada once said, "The longer the base the higher the space." So, we could certainly see NVDA catching a nice breeze soon up to $200 and likely around earnings time, which hits in just under a month.
The technical picture is mixed. Candles are pink so that is modestly bearish, MACD (moving average convergence divergence) is now on a tepid buy signal and momentum (stochastics) have started to turn higher. Money flow is weak here; no doubt big money has enough of NVDA for now and are not adding more shares.
Tech earnings out this week might sway buyers to add some stock before Nvidia's next earnings report.
We like Nvidia in TheStreet Pro Portfolio and rate it a One, or "buy at anytime."
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At the time of publication, TheStreet Pro Portfolio was long NVDA.
