This story was originally published here.
It’s been a choppy kind of week, but so far, bulls are maintaining altitude. With that said, let’s look at a few top stock trades for Friday.
Top Stock Trades for Today No. 1: Nvidia (NVDA)
Nvidia (NASDAQ:NVDA) has been red-hot since hitting its March low near $180. At this week’s high, shares were up about 100% from that level. With earnings on deck for Thursday after the close, investors will be tuning in to see how this stock does.
While not terribly overbought on an RSI basis, it’s hard to get too bullish on Nvidia after shares blew through $200, $250, $300 and even $350. I remarked that shares were a steal at or below $200, but that discount didn’t last long.
I would love a post earnings dip in this one. Ideally down to $280, which is now a proven level of significance. But even a dip down into the $300 to $310 area would make it more attractive.
On a post-earnings rally, it won’t take much for investors to turn their attention to $400.
Editor's Note: For the other three trades, click here.
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