Is $NVIDIA Corp(NVDA)$ Stock A Buy Now?

On a fundamental level, Nvidia earnings and sales are rising again after sharp declines. Recent acquisitions expand its opportunity in emerging growth areas, such as data centers, automated cars and cloud gaming. The adoption of cryptocurrencies could further stoke demand for Nvidia chips.

Meanwhile, new gaming chips underscore Nvidia's continued dominance in core markets.

Nvidia is a leader in the fabless chip group. As the global chip shortage lingers, it could take months for the supply of Nvidia GPUs to catch up with demand.

After a strong rebound off the 10-week line that offered a 181.39 buy point, Leaderboard stock Nvidia is out of range. It's backed by a rising RS line, and investors could consider waiting for the next pullback or a new base to form.

Bottom line: Nvidia stock is not a buy right now. As a leading chip stock with exposure to top end markets in data centers and gaming, Nvidia is always one to watch.