NVIDIA (NVDA) has had a remarkable rally in the past few weeks, with the stock price more than doubling since the start of the year. However, some investors are wondering if the bull run is over.
I recently did a cycle analysis for NVDA, and I believe that there could be a correction imminent. The stock is currently in the overbought zone, and cycles predict a pullback is coming.
I expect weaker prices until August, at which point a short bull market could start. This bull market could last until mid-September, after which we could see another bear market.
However, I believe that the end of 2023 could emerge a new major buying opportunity, with a new rally ahead.