Nvidia Corp. is on pace to rise for a record 11th consecutive session even as at least one technical signal flashes a warning that the stock’s rally is showing signs of overheating.

Shares of the Santa Clara, California-based company have climbed 22% during their latest surge, adding about $220 billion in market value, according to data compiled by Bloomberg. This has propelled their relative strength index, a 0-100 gauge of bullish and bearish price momentum, above 70 on Tuesday.

Such an elevated RSI level is generally considered a contrarian signal that a decline is imminent, because buying has gotten excessive. The stock entered so-called overbought territory for the first time since July.

The latest surge comes as technology stocks rebound amid cooling inflation and hopes that Federal Reserve interest rates have peaked. Nvidia also got an added boost as the company announced an update on its artificial intelligence processors.

“Nvidia’s story remains stronger than ever,” CFRA Research senior equity analyst Angelo Zino said.

Zino and his peers note that the faster-than-expected release of this new chip reflects the company’s desire to fend off any competition in this lucrative and high-demand AI category.

The stock has rallied 240% this year and closed at a record high of $496.56 on Tuesday. The company is scheduled to report earnings on Nov. 21.

Investors’ appetite for the stock that’s dominating the AI trade this year is showing little sign of being satiated. However, not everyone’s bullish. Michael Burry’s investment firm was betting against a basket of semiconductor stocks that includes Nvidia, according to a regulatory filing Tuesday.