NVIDIA (NVDA) RSI Signals Potential Overbought Status Amid AI Optimism

6 days ago

On July 18, NVIDIA's (NVDA, Financial) 14-day Relative Strength Index (RSI) surged past 80, marking its highest level since June 2024. Back then, the stock experienced a decline exceeding 20% over the following six weeks. The company's shares have recently soared by 83% in less than four months due to changes in trade policy under Trump's tenure and investor optimism surrounding AI advancements.

BTIG's Chief Market Technician, Jonathan Krinsky, indicated the stock is in an overbought condition. While this does not guarantee an immediate price reversal, it serves as a warning signal. Previously, the market sentiment was optimistic, and it has now reached nearly euphoric levels, according to Krinsky.

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