Nvidia Corp. (NVDA) has been trading lower since late November. In our November 15 review we changed our stance and wrote, "I have no special knowledge of what NVDA is going to report on Wednesday after the close, but prices are extended or overbought. We have made a big rally but have stopped short of our price targets and a rickshaw man candlestick pattern has our attention. Traders should consider nailing down some profits on our long recommendations. Raise stops to $270 from $220 on the balance of your holdings."
More from Investing
I wouldn't jump the gun on this name, but here's why I find it compelling.
Bears and bulls are trying to discern which way the market is flowing, though neither is secure in their position.
There is risk associated with buying any retailer ahead of earnings at this point, but this guy dipped his toes in the warehouse club's shares anyway.