Lumentum's 1,500% Surge and Nvidia's $2 Billion Deal: What's Next?

The news of Nvidia's $2 billion deal strengthens the company's growth expectations and could generate a positive market reaction in the short term. Technically, the RSI being in the overbought zone at 73 and the price trading above both the SMA20 and SMA50 support the upward trend. However, the RSI's overbought level also raises the possibility of short-term consolidation or a minor correction. The MACD remaining above its signal line indicates that momentum is still bullish.