Chip stocks are deep in overbought territory, led by Nvidia, and may be due for a pullback

Chip stocks are deep in overbought territory, led by Nvidia, and may be due for a pullback

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Semiconductor stocks are in the trenches of overbought territory. The relative strength index for the VanEck Semiconductor ETF (SMH) crossed 80 this week before pulling back to around 71, signaling the touted chip sector may be getting ahead of itself. The ETF has only crossed 80 four other times…

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