Pretty straight forward technical analysis.NVDA trading at this valuation doesn't make sense. I think its headed to $275. Everyone keeps talking about AI and how its a Iphone moment, its not. AI has been around for years. Chat GPT is just a new toy. AI like all technologies will continue to advance but i don't think NVDA will be the primary benefactor from continued technological advancement in the space. So i think this company is way overbought. The price should level off this month as rates move higher, inflation remains sticky and the treasury sells massive amount of bonds draining market liquidity.
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