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☆ Bitcoin losses could steepen after the cryptocurrency breaks below $60,000, analysts say
▼ + stars: | 2024-05-01 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

The bitcoin sell-off could get worse before it gets better, according to analysts who look only at price charts. The downtrend intensified on Wednesday when it tumbled under the $60,000 level for the first time since February, as stubborn inflation and uncertainty around Federal Reserve interest rate policy kept markets under pressure. That was a key support level for bitcoin, representing the approximate convergence of the March low and 100-day moving average, according to Ari Wald, an analyst at Oppenheimer. Wolfe Research's Rob Ginsberg said $60,000 bitcoin looks "vulnerable" and that $50,000 could be in play. Bitcoin traded between $60,000 and $74,000 since mid-March, when the cryptocurrency reached new records and has failed multiple times to break out.

Persons: Ari Wald, Oppenheimer, It's, bitcoin, David Keller, Wald, Keller, Geoff Kendrick, Wolfe, Rob Ginsberg, Bitcoin, —, Michael Bloom, Rob Ginsberg's Organizations: CNBC Locations: U.S

☆ S&P 500 forming a troubling 'bear flag' pattern, Wolfe Research says
▼ + stars: | 2024-05-01 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Technical analyst Rob Ginsberg said in a note to clients late Tuesday that the recent bounces for the S & P 500 and the Nasdaq-100 look suspiciously like "bear flags," an ominous chart pattern. "Equities ended the month on a sour note, as last week's dead cat bounces stalled out beneath resistance. A "bear flag" is a technical pattern that sometimes develops during short-term bounces in a broader market decline. Last week, the S & P 500 rose 2.7%, its best weekly performance since November. Ginsberg said in the note that he sees potential downside to the 4,800 level on the S & P 500, which would equal a further decline of about 4.5%.

Persons: Rob Ginsberg, doesn't, Ginsberg Organizations: Wolfe Research, Nasdaq

☆ Paul Auster’s New York Tragedy
▼ + stars: | 2024-04-30 | by ( Lucy Sante | ) www.nytimes.com time to read: +1 min

I first became aware of Paul Auster, who died on April 30, from reading old issues of The Columbia Review when I was a student at the university. He translated French Surrealist poetry and wrote prose fiction, set in a sort of silent-movie cityscape that anticipated his novels and films. We inhabited the same Morningside Heights world of the early 1970s, with its cranks and cults, mimeographed screeds and tracts. Surely Paul, too, patronized Marlin Café and the Moon Palace. Paul was living blocks away, and when I met him he made me feel as if the whole neighborhood welcomed me.

Persons: Paul Auster, Lydia Davis, Allen Ginsberg, Philip Roth, mimeographed, Paul, Marlin Café Organizations: Columbia Locations: New Jersey, Newark, Columbia, Morningside, Manhattan

☆ Wolfe Research says to play enduring inflation through energy stocks — these 2 in particular
▼ + stars: | 2024-04-29 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

Investors should look to energy stocks as stubborn inflation weighs on the stock market amid growing anxiety over whether the Federal Reserve will cut interest rates at all this year, according to Wolfe Research. "This inability to adequately tame inflation of course coincides with the reacceleration of Oil and Energy stocks over the past few months," analysts Rob Ginsberg and Read Harvey told clients in a Monday note. The Wolfe analysts said investors should take advantage of any near-term overbought consolidations and make a play for the stock to rise back into the mid $40s. Crude oil and the 10-year breakeven inflation rate, meanwhile, are both on the upswing from multiyear bases, according to the Wolfe analysts. "Needless to say, we want to keep playing Oil and Energy stocks to the upside over near – mid term, which should in turn put continued upward pressure on inflation," the Wolfe analysts said.

Persons: Rob Ginsberg, Read Harvey, Ginsberg, Harvey, Halliburton, EQT, Wolfe, CNBC's Michael Bloom Organizations: Federal Reserve, Wolfe Research, Oil, Energy, Halliburton, EQT Corporation, HAL, Securities Locations: –

☆ Bitcoin showing similarities to small caps as it struggles to break through $70,000, says Wolfe Research
▼ + stars: | 2024-04-26 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

"Bitcoin continues to demonstrate its inability to successfully get through that stubborn $70k resistance level," Wolfe's Rob Ginsberg said in a note Wednesday. "It reminds us of another group that has been unable to overcome its own resistance level ... small caps," he continued. Now, bitcoin has retested its highs while small caps have barely proved they can stay above $2,000 in [the Russell 2000 ]." BTC.CM= .RUT 6M mountain Bitcoin and Russell 2000 Bitcoin has been meandering in the $60,000 level since the beginning of March. All of the major stock indexes are down for the month, and the small-cap Russell 2000 is tracking for a deeper loss of about 6%.

Persons: Bitcoin, Rob Ginsberg, bitcoin, Russell, Ginsberg, Michael Bloom Organizations: Wolfe Research, Federal Reserve

☆ Here's why Thursday's post-GDP sell-off may be overdone
▼ + stars: | 2024-04-25 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

Stocks sold off Thursday aHoweverfter the latest economic data came in weaker than expected, but some observers say that the reaction was overdone. While the headline GDP number missed expectations, it nevertheless showed economic growth the Fed could take in stride, they say. He noted that the core parts of GDP, such as consumption growth and residential growth, were "quite good." "Stagflation is a combination of stagnant growth and high inflation," Nick continued. "I think the earnings backdrop has been very supportive," Lee told CNBC's " Closing Bell " on Thursday.

Persons: Stocks, Dow Jones, Chris Zaccarelli, Brian Nick, Nick, we're, Rob Ginsberg, Ginsberg, Fundstrat's Tom Lee, Lee, CNBC's, Jeff Cox Organizations: Federal Reserve, Independent, Alliance, Dow Jones, Treasury, Macro, Wolfe Research Locations: U.S

☆ Here's why this financial technology fund could break out during earnings season
▼ + stars: | 2024-04-24 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Technical analyst Rob Ginsberg said in a note to clients Wednesday that the Global X FinTech ETF (FINX) looks attractive after a long period of underperforming the broader market. "Now that we're past much of the big bank earnings, there are a number of fintech and financial service names on the docket this week and next. FINX 5Y mountain The FINX ETF has shown early signs of a rebound in 2024. Ginsberg wrote that the ETF has some positive technical signals of its own. To be sure, earnings reports could prove to be a downside catalyst for financial technology stocks and the fund.

Persons: Rob Ginsberg, Ginsberg, — CNBC's Michael Bloom Organizations: titans, Wolfe Research, Paypal Locations: Fintech, FINX

☆ The stock market is primed for a short-term bounce, but correction still not over
▼ + stars: | 2024-04-22 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

The stock market is poised for a short-term bounce, but technical analysts who watch price charts warn that the correction is not yet over. The technician said he anticipates support for stocks — the point at which buyers will reemerge — between 4,700-4,800 in the S & P 500. .SPX YTD mountain S & P 500 To be sure, some observers anticipate a more durable stock market rally, rather than a mere bounce. He anticipates that the S & P 500 could find support down at 4,800 and may not find a true bottom for several weeks. But he anticipates that the selloff will take longer to play out, with a pullback bringing the S & P 500 back to 4,700.

Persons: JC O'Hara, Roth MKM, O'Hara, Tom Lee, Lee, CNBC's, Oppenheimer's Ari Wald, Wald, we've, BTIG's Jonathan Krinsky, Krinsky, Wolfe's Rob Ginsberg Organizations: Stocks, Federal Reserve

☆ Former White House Middle East Policy Advisor on Israel-Iran conflict
▼ + stars: | 2024-04-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer White House Middle East Policy Advisor on Israel-Iran conflictMarc Ginsberg, former White House Middle East Policy Advisor and former ambassador to Morocco, joins CNBC's 'Squawk on the Street' to discuss the ongoing tensions in the Middle East, how this conflict could shape up, and more.

Persons: Marc Ginsberg Organizations: White House Locations: Israel, Iran, Morocco

☆ Wall Street heads into the week ahead on edge as traders brace for a raft of earnings, economic data
▼ + stars: | 2024-04-12 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

How the corporate America is handling sticky inflation and the prospect of higher interest rates will be top of mind for investors in the week ahead, after this week's choppy moves. The first-quarter earnings season, which kicked off Friday, will give Wall Street insight into how businesses expect to weather an environment of elevated interest rates. More macro data, such as U.S. retail sales, will give insight into how the consumer is handling higher pricing pressures. First-quarter earnings season underway The corporate earnings season kicks into high gear in the week ahead. This week, the small cap Russell 2000 is on track for a losing week, down by more than 1%.

Persons: Bob Doll, CNBC's, Wolfe, Rob Ginsberg, Ginsberg, Goldman Sachs, Morgan Stanley, FactSet, Robert Haworth, Haworth, Charles Schwab, Johnson, D.R, KeyCorp Organizations: Dow Jones Industrial, Exxon Mobil, Costco, Apple, Crossmark, Investments, Investors, Bank of America, Consumer, U.S . Bank, Index, Retail, T Bank, Housing, Manufacturing, Hunt Transport Services, United Airlines, Johnson, Bank of New York Mellon, UnitedHealth Group, Northern Trust, CSX, Discover Financial Services, Prologis, U.S . Bancorp, Philadelphia Fed, American Express, Procter, Gamble, Fifth Third Bancorp, Schlumberger Locations: America, China, NAHB, Vegas Sands, U.S, Horton

☆ The March inflation data lowered rate cut expectations. Here's why stocks could take that in stride
▼ + stars: | 2024-04-10 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

Investors had lately been hoping the Fed might start easing back on policy starting in June, with three rate cuts penciled in for the year. But a robust labor market, as reflected in last week's March payrolls, and this latest consumer inflation data have pushed back that view. Markets now anticipate the first cut might come in September, with just two quarter-point reductions for the whole year. Even so, investors anticipate that markets may be able to take fewer rate cuts in stride so long as the Fed isn't actually forced to raise rates. Varghese still leans toward equities, expecting as many as three rate cuts this year, though he anticipates the first cut might not come until July now.

Persons: Federal Reserve doesn't, Stocks, isn't, Ayako Yoshioka, Yoshioka, Wolfe, Rob Ginsberg, Ginsberg, Sonu Varghese, Varghese, Powell, they're Organizations: Federal Reserve, Dow Jones, Nasdaq, Carson Group, CPI

☆ Energy, the new momentum trade? Why the sector's strong gains can increase from here
▼ + stars: | 2024-04-08 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

The energy sector has pulled up from behind to overtake nearly every other sector of the market this year and may still have room to advance, according to analysts. The energy sector has gotten a lift as crude oil prices are on a tear this year after plummeting in the last quarter of 2023. The refiners Marathon Petroleum , Phillips 66 and Valero also hit all-time highs on Friday. Diamondback Energy is trading at all-time highs Monday dating back to its IPO in October 2012, while ConocoPhillips is at levels that have not been seen since November 2022. "We think it's a theme that has more to go as well," Ginsberg said of the energy sector rally.

Persons: Jonathan Krinsky, Krinsky, it's, Rob Ginsberg, Brent, Iran teeter, Ginsberg, Valero Organizations: Energy, BTIG, Exxon Mobil, Wolfe Research, Fund, JPMorgan, OPEC, refiners, Petroleum, Phillips, Diamondback Energy, ConocoPhillips Locations: Ukraine, Israel, Iran, Occidental

☆ Gold could start to overtake bitcoin as the cryptocurrency stalls at $70,000, says Wolfe Research
▼ + stars: | 2024-03-28 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Gold has a chance to charge ahead of bitcoin as the flagship cryptocurrency hovers around the $70,000 level, according to Wolfe Research. However, bitcoin has also been mirroring its own moves from 2021, when the cryptocurrency rocketed twice to all-time highs, just before a deep pullback. "The gold vs. bitcoin ratio is nearing support while oversold on a weekly basis," said Ginsberg. "If our feeling on bitcoin is correct, and it continues to consolidate in this $60,000–$73,000 region, it may provide a good opportunity for gold to start outperforming." It has since returned to its highs and looks ready to reaccelerate, Ginsberg said, although selling pressure "has historically come on strong above $70,000."

Persons: bitcoin, Rob Ginsberg, Ginsberg Organizations: Wolfe Research Locations: bitcoin, U.S

☆ The move in this AI momentum ‘poster child’ is so astounding that it’s time to fade, Wolfe Research says
▼ + stars: | 2024-03-14 | by ( Fred Imbert | ) www.cnbc.com time to read: +1 min

Super Micro Computer has gone too far and investors need to step away for now, according to Wolfe Research. But Wolfe strategist Rob Ginsberg thinks it's time to book some profits on the stock as it reaches deeply overbought territory. "The Poster Child of the Momentum Factor, the Stock is Now 300% Above Its 200-Day and its RSI Recently Hit an Eye Opening 97," he wrote. RSI refers to relative strength index, a widely followed momentum metric that gauges overbought and oversold conditions. Ginsberg said he would "Fade Strength into [the] S & P Rebalancing," which will take place Monday.

Persons: Wolfe, Rob Ginsberg, it's, Ginsberg Organizations: Wolfe Research, Factor, RSI

☆ AI-powered devices could drastically change how we interact with technology. But will they catch on?
▼ + stars: | 2024-03-01 | by ( Samantha Stokes | Vishal Persaud | ) www.businessinsider.com time to read: +5 min

"The key isn't hardware but the user experience it enables," Khosla, whose firm Khosla Ventures, is an investor in Rabbit, told Business Insider in an email. This story is available exclusively to Business Insider subscribers. At the same time, I don't think the average consumer wants to carry around multiple devices," S. Somasegar, a managing director at Madrona, told Business Insider. That's where we're at," he told Business Insider. Ginsberg said he's excited about the Humnane Pin because AI voice assistants have finally become powerful enough to be useful for average consumers.

Persons: Vinod Khosla, Khosla, Navin Chaddha, Ai, Somasegar, Bernstein, Nielsen, Zachary Ginsburg, Ginsberg, Marc Benioff, Sam Altman, Lachy Groom, Avi Schiffmann, it's, Chaddha Organizations: Khosla Ventures, Software, Business, Mayfield, Microsoft, Calm Ventures, Bond Ventures, Forerunner Ventures, Harvard Locations: Humane's

☆ It's time to get rid of the 'Magnificent Seven' moniker, according to Wolfe Research
▼ + stars: | 2024-02-27 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

So-called Magnificent Seven stocks Apple , Alphabet and Tesla may no longer be living up to that title, according to Wolfe Research. "It's really more like the Mag 4 or Fab 4 these days," Wolfe Research managing director Rob Ginsberg wrote Monday. " The meteoric rise of the "Magnificent Seven" stocks — Apple, Alphabet, Amazon, Meta Platforms, Microsoft, Nvidia and Tesla — lifted the S & P 500 to a 24.2% gain in 2023. But Ginsberg said Apple, Alphabet and Tesla are ripe for exclusion from the Magnificent Seven. AAPL YTD mountain Apple shares in 2024 Apple shares have slipped roughly 10% from their December 2023 high, Ginsberg said, and they are off by about 6% in 2024.

Persons: Wolfe, Rob Ginsberg, Evelyn, Ginsberg, Tesla Organizations: Wolfe Research, Microsoft, Nvidia, Tesla, Evelyn Partners, Dow, Apple

☆ Saul Leiter: The photographer who changed the way the world saw New York
▼ + stars: | 2024-02-22 | by ( Christian House | ) edition.cnn.com time to read: +6 min

CNN —Saul Leiter had a thing for umbrellas. They pepper his mid-century photographs of New York, popping up over years of work: pink umbrellas, red umbrellas, yellow umbrellas. In “Saul Leiter: An Unfinished Word,” a joyous new retrospective on view at MK Gallery in Milton Keynes, England, these umbrellas sing out from the walls. Saul Leiter FoundationLeiter’s abstracted shots of New York seem radical, yet they are true to how we all see the streets: fragmented by traffic, building facades, doorways, angles and crowds. Saul Leiter Foundation“He never really settled into society,” says Morin.

Persons: CNN — Saul Leiter, “ Saul Leiter, Leiter, —, Saul Leiter, ”, Saul Leiter Leiter, Saul, Eugene Smith, Bonnard, “, Anne Morin, Jack Kerouac, Allen Ginsberg, Soames Bantry, Anders Goldfarb, Diane Arbus, Robert Frank, Morin Organizations: CNN, Saul Leiter Foundation, British Vogue, Bazaar, New York School of Photographers Locations: New York, Milton Keynes, England, Pittsburgh, British

☆ Handwringing over Biden's age has Democrats worried about a repeat of Ruth Bader Ginsberg's refusal to step down
▼ + stars: | 2024-02-18 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +11 min

Read previewAt 81 years old, President Joe Biden is facing criticism from Republicans and Democrats alike that he's too old to be president again. Many draw parallels between Biden and the late Supreme Court Justice Ruth Bader Ginsburg, who refused to step down from her lifetime appointment to the court while President Barack Obama was in office. The current Supreme Court is comprised of 6 conservative justices and 3 liberals, though Chief Justice John Roberts is often considered a swing vote. Bill Clinton's choice for Supreme Court vacancy, on Capitol Hill, June 15, 1993. Supreme Court justices are appointed, not elected, and the confirmation of Obama's nomination of Garland was blocked by Republicans in the Senate in the wake of Antonin Scalia's death in 2016.

Persons: —, Joe Biden, Jon Stewart, Ezra Klein —, Donald Trump, Biden, Ruth Bader Ginsburg, Barack Obama, Ginsburg, Obama, Merrick Garland, shoring, Trump, Amy Coney Barrett, John Roberts, Justin Buchler, Pres, Bill Clinton's, Marcy Nighswander, Garland, Antonin Scalia's, Hillary Clinton, Clinton, she'd, Roe, Christian Grose, Daniel Patrick Moynihan, Dean Phillips, Grose, Buchler, Kamala Harris, Gavin Newsom —, Harris, Newsom, Lyndon Johnson, Hubert Humphrey, Richard Nixon, Robert Hur, I've, flubs, Abdel Fattah al, Nikki Haley, Nancy Pelosi, Peter Loge, Younger, Ron DeSantis, Vivek Ramaswamy, Phillips, let's, I'm, we'll, Ron Sachs Organizations: Service, Democrats, Business, Supreme, Democratic, Case Western Reserve University, Committee, Capitol, AP, Trump, Wade, CNBC, University of Southern, Research, California Gov, Washington Post, Democrat, Biden, Republicans, GOP, Politico, Minnesota, Time, NBC News, Reuters, US, Judiciary, Washington DC Locations: Biden's, University of Southern California, California, Mexico, South Carolina, Trump, Capitol Hill, Washington

☆ Here’s what bitcoin’s chart says about its next moves after it breached $50,000 this week
▼ + stars: | 2024-02-13 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Bitcoin broke through $50,000 to start the week and although a stubbornly high inflation reading has pulled it lower since, the cryptocurrency is still in safe territory, according to chart analysts. On Monday, the cryptocurrency finished above $50,000 – at one point rising to $50,334.00, its highest level since December 2021. BTC.CM= YTD mountain Bitcoin year-to-date Other chart analysts echoed that investors need not be too concerned about a significant decline from here. "Old resistance becomes support and that $46,000 to $48,000 can then become the jumping board for a continuation of the rally." Katie Stockton of Fairlead Strategies agreed the bitcoin chart supports "a long-term bullish bias."

Persons: Bitcoin, bitcoin, Wolfe, Rob Ginsberg, Ginsberg, Julius de Kempenaer, De Kempenaer, Katie Stockton, it'll, Stockton Organizations: CNBC, Fairlead Locations: overbought

☆ Ai Weiwei’s ‘Zodiac’ Is a Mystical Memory Tour
▼ + stars: | 2024-02-07 | by ( Jonathan Landreth | ) www.nytimes.com time to read: +1 min

As the Year of the Dragon dawns, the Chinese artist Ai Weiwei has released “Zodiac,” a “graphic memoir” of scenes from his career — both real (hanging with Allen Ginsberg, the O.G. Each chapter frames the artist’s take on traditional beliefs about the characteristics humans share with the 12 animals of the Chinese lunar calendar. Gianluca Costantini’s intricate line drawings pair with Elettra Stamboulis’s comic-bubble text to help expand Ai’s lifelong campaign for free expression to a new medium for a new generation. Ai spoke with Jonathan Landreth about parents and parenting, punk rock and the passage of time, all via video chat last week from Berlin. A zodiac cycle ago, in 2012, you were just out of jail and tired of Beijing trying to silence you.

Persons: Ai Weiwei, Allen Ginsberg, Xi, Gianluca, Elettra, Ai, Jonathan Landreth Organizations: Twitter Locations: Greenwich, Berlin, Beijing, ”, Berlin , Cambridge, Portugal, China, New York

☆ Bitcoin could stay rangebound for several weeks more but Solana is poised for a breakout, says Wolfe Research
▼ + stars: | 2024-02-01 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin investors have high hopes for 2024 given the cryptocurrency's almost too-good-to-be-true setup , but they may have to wait a few weeks more for its next big ascent, according to Wolfe Research. BTC.CM= 1M mountain Bitcoin ended the month of January flat and is poised for more weakness, says Wolfe Research. "A breakout does not look likely in the near term. "Solana and other altcoins have come on strong in recent months and likely continue that outperformance near term." Ginsberg said the tokens tied to Cardano and Avalanche are also set to rise in the near term, and Chainlink could be poised for a breakout.

Persons: bitcoin, Wolfe, it's, Rob Ginsberg, Solana, Ginsberg, We're, they're, — CNBC's Michael Bloom Organizations: Wolfe Research, Solana, Securities and Exchange Commission, Avalanche Locations: U.S, bitcoin

☆ The stock market rally is showing signs of exhaustion, according to multiple chart analysts
▼ + stars: | 2024-01-29 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

Several chart analysts are worried stocks are showing signs of exhaustion after their recent rally. Even there, however, we started to see some cracks last week as upside exhaustion also showed itself," Krinsky added. JC O'Hara, chief market technician at Roth MKM, wrote: "This persistence of gains is rare, and we are seeing signs that leadership is feeling exhaustion." However, when we view the chart, we find early signs of bullish exhaustion," O'Hara wrote. "From a trading basis, lethargic internal behavior suggests the bull cycle is due for a breather," Wald wrote on Saturday.

Persons: Jonathan Krinsky, Krinsky, JC O'Hara, Roth MKM, O'Hara, Rob Ginsberg, Ginsberg, SMH, that's, Oppenheimer's Ari Wald, Russell, Wald Organizations: Reserve, Microsoft, Nasdaq, Bears, Wolfe Research, VanEck Semiconductor

☆ Opinion: 17 syllables a day that are changing your lives
▼ + stars: | 2024-01-28 | by ( Opinion Tess Taylor | ) edition.cnn.com time to read: +7 min

CNN —For me, writing a haiku a day began as a practice on my birthday, October, 2022. As my birthday rolled around that fall, the idea of writing a haiku a day was simply a way of promising myself that that day, I’d steady myself make note of — ha — just one thing. No matter the day, I was sure I could find a way to write down one sentence, one spattering of roughly 17 syllables. Tink Boord-Dill wrote in that liked that he loved writing haiku because it was daily creativity without performance pressure. Robin from Maryland wrote “the daily writing of seventeen syllables quickly created a rhythm to my thinking and even my walking….

Persons: Tess Taylor, —, Tess Taylor Adrianne Mathiowetz, Robert Hass, I’d, Basho, we’d, Tink, Dill, Elaine Questell, ” Carla White, ” Paul Nelson, Allen Ginsberg, Linda Neves, …, Candace Waldron, “, birdsong, — Linda Neves, Brad Taylor, Nancy B, — Philip Chan, Carolyn W, — Susan B, Karen Jacobs, Weren’t, — Stephen Schwei, Derek Thaczuk, I’m Organizations: “, CNN Locations: California, Maryland, Virginia, New York, Quebec, Bill, Alaska, Arizona, Guynn , Texas, Ohio, Derek Thaczuk , Ontario

☆ Chip stocks are deep in overbought territory, led by Nvidia, and may be due for a pullback
▼ + stars: | 2024-01-26 | by ( ) www.cnbc.com time to read: +2 min

Semiconductor stocks are in the trenches of overbought territory. Against this backdrop, CNBC Pro looked looked into the SMH to see which individual chipmakers were also overbought. Nvidia is the most overbought stock on the list with a 14-day RSI reading of 83.91. Broadcom also made the overbought list with a 14-day RSI reading of 71.71. Other chip stocks on the overbought list include sector heavyweight Taiwan Semiconductor and AMD .

Persons: Wolfe, Rob Ginsberg, It's, Nvidia's Organizations: VanEck Semiconductor, Wolfe Research, CNBC, Nvidia, FactSet, Broadcom, Citi, VMware, Taiwan Semiconductor, AMD Locations: U.S

☆ Nvidia is now 'deeply overbought' and due for 'consolidation,' says chart analyst
▼ + stars: | 2024-01-23 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Nvidia looks poised for a pullback after its strong start to 2024, according to Wolfe Research. When the stock market opened Monday, Nvidia reached Wolfe's recent target of $600 a share, leaving it "now deeply overbought and due for a consolidation," said Rob Ginsberg, Wolfe's technical analyst, in a note to clients. The RSI measures the magnitude and speed of price movements, with any figure over 70 signaling that a stock is overbought and potentially ripe for selling. NVDA YTD mountain Nvidia shares have gained nearly 20% this year If Nvidia is vulnerable to a pullback, it's far from alone, according to Ginsberg. Wolfe is not inclined "to chase vertical moves," and at such times would rather harvest some gains, the analyst wrote.

Persons: Rob Ginsberg, Ginsberg, Wolfe, — CNBC's Michael Bloom Organizations: Nvidia, Wolfe Research, Devices, Dow Jones, Micro Computer

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