Big Tech momentum is starting to look stretched, with several mega-cap names flashing overbought signals even as Nvidia Corp. (NASDAQ:NVDA) continues to push into record territory.
- AMD stock is in oversold territory. See the chart and price action here.
Nvidia shares reached a new all-time high on Monday, trading as high as $222.30 per share before closing at $219.44.
The move keeps the AI chip leader firmly in focus, but a 14-session RSI screen shows Nvidia is not actually the most overbought name in big tech right now.
Overbought Tech Names
Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) sits at the top of the overbought list, with GOOGL showing a 14-day RSI of 82.2, according to Benzinga Pro.
Advanced Micro Devices Inc. (NASDAQ:AMD) follows closely behind with an RSI of 80.3, suggesting AMD's recent momentum has pushed the stock into technically stretched territory.
Tesla Inc. (NASDAQ:TSLA) and Apple Inc. (NASDAQ:AAPL) are also flashing elevated readings. Tesla showed a 14-session RSI of 78.1, while Apple also registered 78.1.
Amazon.com Inc. (NASDAQ:AMZN) rounded out the overbought group with an RSI of 72.1.
Traders typically view RSI readings above 70 as a sign that a stock may be overbought, though the signal does not necessarily imply an imminent reversal.
Strong stocks can remain overbought during powerful momentum runs, especially when the broader market is rewarding AI, cloud, semiconductor and mega-cap tech exposure.
That makes Nvidia's setup notable. Despite reaching a fresh high above $222 per share, NVDA's 14-day RSI stood at 64.9, below the traditional overbought line and behind several other big tech peers.
The Bottom Line
Broadcom Inc. (NASDAQ:AVGO) remains firm, but not yet technically overbought. AVGO is currently showing an RSI of 61.0 on Benzinga Pro.
The takeaway for traders is that the hottest-looking charts are not necessarily the same as the most talked-about stocks.
Nvidia remains a market leader and just printed a new record high, but Alphabet, AMD, Tesla, Apple and Amazon are the names showing the most technically stretched conditions on this screen.
If momentum cools, the higher-RSI names could be more vulnerable to a short-term pause or pullback.
If risk appetite stays strong, elevated RSI readings could simply reflect continued demand for the same large-cap tech leadership that has powered the market higher.
Price Action
Nvidia stock was up 0.7% at $220.97 at the time of publication Tuesday, according to Benzinga Pro. Over the past month, NVDA has gained about 17.5% versus a 8.5% rise in the S&P 500 and is up roughly 15% year-to-date compared to the index’s 7.2% gain.
Photo: PeopleImages / Shutterstock
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