Nvidia Stock Technical Analysis

$NVIDIA(NVDA.US)$ Shares of Nvidia are back below a 272.38 buy point, which they had cleared amid the GTC event. The trendline entry followed a strong rally off early March lows. Nvidia stock remains above the 50-day moving average after retaking that key level in mid March. If NVDA stock retakes the latest entry, the buy zone would go to 286.

NVDA earns a near-perfect IBD Composite Rating of 98. In other words, Nvidia stock has outperformed 98% of all other stocks in terms of combined technical and fundamental metrics. In fact, NVDA belongs to the IBD Leaderboard, a list of stocks with the most potential for big gains.

Nvidia stock owns an RS Rating of 95, meaning it has outperformed 95% of all stocks over the past year. The $iShares Semiconductor ETF(SOXX.US)$ holds both Nvidia and $Advanced Micro Devices(AMD.US)$ stock.