After a blowout performance to start the year, shares of Nvidia are showing signs of "upside exhaustion" and that could spell some near-term trouble ahead, according to Fairlead Strategies' Katie Stockton.
The chart analyst told CNBC's " Pro Talks " on Wednesday that certain technical indicators suggest that Nvidia may soon enter a "corrective phase" that could lead to a slight pullback in shares, and recommended shying away from adding to positions right now.
Nvidia shares have nearly tripled in 2023 as Wall Street bets on the semiconductor giant as the artificial intelligence giant to topple.
Like Stockton, Paul Meeks, a portfolio manager at Independent Solutions Wealth Management, recommends holding Nvidia shares.
Right now I'd just hold it, though it is my best AI pick."
Persons:
Katie Stockton, CNBC's, there's, Paul Meeks, Meeks
Organizations:
Nvidia, Independent Solutions Wealth Management
Locations:
Stockton