Nvidia (NVDA) despite the announcement of a 150 billion buyback, also the largest ever on record, is struggling to push above the resistance at the all-time highs.
This is starting to become a recurring theme with NVDA as it continues to bounce hard at support underneath, but struggles to make any new meaningful, new all-time highs above. All the while, its sector (technology) and industry (semiconductors) continues to outperform its peers as well.
If it falls back it has the rising trend-line underneath that I would watch for a bounce from, but before that, I don’t see a reason to buy unless it can break through the resistance at its all-time highs, and even then, I would question its sustainability of a strong move beyond that level.
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