Chart of Day: Nvidia (NVDA)

You are receiving this email because you are subscribed to Daily Guru Trades. If you no longer wish to receive these emails, please unsubscribe here. The pullback in Nvidia (SYM: NVDA) appears overdone. After testing a high of $140, Nvidia (NVDA) dropped to about $112.34, where it's now wildly oversold at its 100-day moving average. It's also over-extended on RSI, MACD and Williams' %R. From its last traded price of $112.34, I'd like to see it initially retest $140. Helping, analysts at Citi just reiterated its buy rating on the stock, with a $150 price target. All after Nvidia announced a new service that will boost generative AI for enterprises. Piper Sandler raised its price target to $140, believing the company could beat revenue by $2 billion this quarter. Loop Capital also raised its price target to $175 with a buy rating. Did you miss yesterday's Chart of the Day? Click here to view it now. 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