Saw $NVDA pull back over 1% today. Given its performance year-to-date, this could just be healthy profit-taking. However, with broader market uncertainties, is this an opportune entry point for a swing, or is it signaling a deeper correction? My concern is if it breaks below 205 on increased volume.
Could be an entry for a quick swing if you're nimble, but I wouldn't call it a deep value play just yet. With broader market concerns, even strong names can get dragged down. Manage your risk accordingly.
I'm leaning towards healthy profit-taking myself. The volume wasn't anything to be concerned about, and the overall tech sector still looks strong. Might dip a bit more, but I'd be looking for a bounce.
Good question. While it's tempting to jump in on a dip, that 205 level is definitely something to watch. A break below that with volume would change the narrative significantly for me. I'm staying on the sidelines for now.