Arm Stock Just Entered Overbought Territory. Is It Too Late to Chase the Rally Here?

Arm Holdings (ARM) shares are ripping higher this morning after the chip design firm announced its first-ever in-house artificial intelligence (AI) chip, the “AGI” central processing unit (CPU). This monumental rally pushed ARM’s relative strength index (14-day) into the late 70s, suggesting the SoftBank (SFTBY)-owned company is now “overbought” and may be due for a breather. More News from Barchart Following today’s surge, Arm stock is up roughly 55% versus its YTD low but a senior Raymond James analy ...