Nvidia has a strong summer seasonal pattern. It is an American multinational technology company that is based in Santa Clara in California. With all the speculation that the Federal Reserve may have to hike rates more conservatively due to slowing US growth can stocks still continue in line with recent gains?
Nvidia’s summer pattern is noteworthy. From August 09 through to October 31 the Nvidia has gained 8 times and only lost value twice. The average return has been over 9% with the best return pushing above 30%.
Is this time to buy Nvidia stock? Or will coming interest rate hikes weigh too heavily on the US economy and bring stocks down another leg?
Major Trade Risks: If the US heads into a deep recession then stocks could be in for a tough time despite the strong seasonal pattern.
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