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Many buy Nvidia after 30 percent drop, David Bird notes

Many buy Nvidia after 30 percent drop, David Bird notes
Nvidia drops 30 percent as buyers rush in

Nvidia shares have fallen 30 percent from their highs, a development that David Bird describes as fueling widespread dip buying by people who may not realize the stock has displayed signs of a major distribution pattern for several months.

Bird contends that this oversight is a common mistake.

Earlier this year, Bird questioned investor approaches to the S&P 500, asking whether people tend to buy high and sell low or buy low and sell high. He has also analyzed a decade-long accumulation period in the FCG ETF, referencing an inverse head and shoulders pattern and a recent neckline shift in prior research. Bird’s recent observations on Nvidia follow a pattern of technical analysis across different markets.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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