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

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.

Finance Finance Latest News, Finance Finance Headlines

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

Wall Street barrels to records as Nvidia tops $3 trillion in total valueWall Street barreled to all-time highs as its frenzy around artificial-intelligence technology keeps sending stocks higher
Source: latimes - 🏆 11. / 82 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 »