August 20, 2024

By Nigam Arora & Dr. Natasha Arora

To gain an edge, this is what you need to know today.

Overbought Stock Market

Please click here for a chart of Nvidia stock (NVDA).

Note the following:

• The Morning Capsule is about the big picture, not an individual stock.  The chart of NVDA stock is being used to illustrate the point.
• The chart shows that NVDA stock hit the bottom of the support zone during the carry trade crash.
• The chart shows relentless buying in NVDA since it hit the bottom of the support zone.
• The chart shows that NVDA is now approaching the resistance zone.