CMT Association affiliate member Todd Gordon, a technical analyst and founder of TradingAnalysis.com, was featured on CNBC late Thursday to talk about a possible buying opportunity for graphics chipmaker Nvidia, which recently experienced a 40% crash in price from its yearly peak to a low last month.
Gordon pointed out that, in general, the semiconductor industry has displayed significant relative strength.
“We’ve made a higher low, and we’re starting to see semis move back,” he said. “What I like about this and the overall space is we’re showing relative strength in the semis, which was a major source of NASDAQ weakness over the last few months.”
Read the whole article on CNBC: Nvidia plummets after earnings — here’s how to trade the chips now.