After its impressive run, $NVDA has pulled back today. It's still up significantly YTD, but the short-term trend seems to be softening. Is this a healthy consolidation after such a strong move, or are we seeing a rotation out of some of the AI darlings? I'm holding off on any new entries until there's more clarity on its support.
I'm actually seeing this as an opportunity. It's still a leader in a massive growth sector. A dip like this is exactly what I've been waiting for to add more.
Healthy consolidation is a good way to put it. The run up was almost too parabolic. This cools things down and allows for a more sustainable uptrend, if it continues.
I'm with you. A little profit-taking seems natural after such a run. I'm watching the 50-day moving average closely for potential support.
Could definitely be rotation. Money has to go somewhere, and other sectors are looking undervalued by comparison. Not sure NVDA is done yet though.