Expect A Slower NVIDIA As 2024 Closes

Group 1 - The stock of NVIDIA was featured favorably on the front page of Barron's, but historical research suggests that such exposure may lead to a price decline in the following months [1] - Research by Paul McRae Montgomery indicates that investment-related stories on the cover of non-financial publications often result in the price moving in the opposite direction 80% of the time over the next four months [1] - The recent earnings release for NVIDIA showed positive numbers, yet the stock did not rally, indicating potential weakness in market sentiment [6] Group 2 - The monthly price cycle for NVIDIA is currently peaking, with early December expected to be a high point [2][3] - November has historically been the strongest month for NVIDIA over the past 26 years, as indicated by the seasonal cycle analysis [4][5] - Recent relative strength compared to the S&P 500 has been flat since June, with waning weekly momentum and historically overbought monthly momentum [6][7] Group 3 - The conclusion drawn is that NVIDIA's stock is likely entering a consolidation phase to digest its gains, and it is advised not to buy or add to holdings at this time [8] - Portfolio managers are recommended to adjust their positions to a market-weight stance [8]