Nvidia May Be Out Of Juice

Investment Analyst, Writer, Educator, Chart Geek • Aug 12, 2016 at 12:33 PM EDT

Nvidia has been a runaway train and every attempt to pick a top was crushed. However, all good things do eventually come to an end and with an earnings-based gap up Friday this is a good candidate for that end - at least temporarily.

Nvidia (NVDA) has been soaring all year and moved from roughly 25.50 to over 62.00. Not too shabby. However, it is once again overbought and shows many of the earmarks of a stock that is running out of juice. With a gap up on big volume it seems that everyone who wanted in is now in. Demand may be exhausted.

Confirmation will be a weak Monday but for now this is a stock that deserves a breather.

Disclosure:

No positions in anything covered.

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