Nvidia is one of the most overbought stocks on Wall Street. Here are the rest

  • 📰 CNBC
  • ⏱ Reading Time:
  • 22 sec. here
  • 15 min. at publisher
  • 📊 Quality Score:
  • News: 57%
  • Publisher: 72%

Costco Wholesale Corp News

Epam Systems Inc,Dow Jones Industrial Average,S&P 500 Index

CNBC Pro subscribers can see the most overbought and oversold names this week.

Nvidia was one of the most overbought names on Wall Street this week as the artificial intelligence darling crossed the $3 trillion market cap threshold. The stock was the ninth most overbought equity this week, registering a 14-day relative strength index reading above 74. The RSI, which measures the magnitude and speed of price moves, is a popular metric used to evaluate whether shares are overbought or oversold.

Costco clocked the highest RSI, topping 80 as shares rallied about 4% over the week. The stock is now up by more than 28% on the year. But Wall Street isn't sure these strong performances can hold up. While both Costco and Nvidia have buy ratings from the typical analyst, the average price target implies the former slipping more than 1% and the latter shedding just over 2% in the next 12 months, per FactSet.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nvidia stock: 10 Wall Street analysts discuss earnings, outlookNvidia stock: 10 Wall Street analysts discuss earnings, outlook
Source: Investingcom - 🏆 450. / 53 Read more »

Nvidia rides AI boom to third highest market value on Wall StreetNvidia on Wednesday overshot Wall Street estimates as its profit skyrocketed, bolstered by the chip-making dominance that has made the company an icon of the artificial intelligence boom.
Source: KPIXtv - 🏆 443. / 53 Read more »

Stocks are little changed as Wall Street awaits big Nvidia earnings: Live updatesThe major averages were little changed Wednesday as investors looked ahead to the widely-anticipated release of Nvidia's latest earnings report.
Source: CNBC - 🏆 12. / 72 Read more »

Nvidia beating earnings per share expectations is worst-kept secret on Wall Street, says Evercore ISIWall Street may be banking on Nvidia beating earnings, but how the stock will react is less clear, says Evercore ISI.
Source: CNBC - 🏆 12. / 72 Read more »