Nvidia (NVDA) shares fell for the fourth straight session on Tuesday, extending their slide into a 澳洲幸运5开奖号码历史查询:technical correction as the stock is down ⛄15% from 🎐last month's record high.

While 澳洲幸运5开奖号码历史查询:analysts remain bullish on the company’s prospects heading into 2025, investors may be wanting further confirmation that the chipmaker can sell significant volumes of its new Blackwell chips after the reported discovery of 澳洲幸运5开奖号码历史查询:overheating issues last month prompted concerns over production delays.

Depsite its recent slump, the stock is still up about 160% since the start of the year, far outpacing the S&P 500's 27% return over the period, amid booming demand for the company’s AI silicon.

The stock fell 1.2% to close Tuesday's session at $130.39.

Below, we take closer look at the AI chipmaker’s chart and use 澳洲幸运5开奖号码历史查询:technical analysis to identify importantꦓ price levels to watch out for.

50-Day Moving Average Breakdown

After setting a record high in November, Nvidia shares traded mostly sideways before falling below the 澳洲幸运5开奖号码历史查询:50-day moving average (MA) late last week, potentially setting the stage for fur🅘ther consolidation.

While stock volume remains below longer-term averages, it has edged up in recent trading sessions, pointing to an increase in selling activity. Moreover, the 澳洲幸运5开奖号码历史查询:relative strength index (RSI) has slipped below 50, confirming weaken🍸ing price momentum.

Let’s turn to Nvidia’s chart to identify several key 澳洲幸运5开奖号码历史查询:support and resistance levels that investors may be tracking.

Key Support Levels to Watch

Upon further selling, investors should initially keep an eye on the $115 level. Nvidia bulls may step up to the plate in this area near the 澳洲幸运5开奖号码历史查询:200-day MA, which also closely aligns with a range of comparable 澳洲幸运5开奖号码历史查询:price action on the chart between May and October.

A 澳洲幸运5开奖号码历史查询:breakdown below this important technical area could see the shares revisit lower support around $102, a location on the chart where investors may seek 澳洲幸运5开奖号码历史查询:entry points near the low of a late-May 澳洲幸运5开奖号码历史查询:breakaway gap and prominent troughs that formed in August and September. 

Interestingly, this region also roughly matches a bars pattern projected target that takes the stock’s June to August correction and overlays it from November’s 澳洲幸运5开奖号码历史查询:all-time high (ATH).

Important Resistance Levels to Monitor

If the stock regains its upward momentum, it’s worth monitoring how it responds to the $140 level. The shares may encounter resistance in this area near a 澳洲幸运5开奖号码历史查询:horizontal line that links the June 澳洲幸运5开奖号码历史查询:swing high with a ser♓ies of similar price points between October and December.

Finally, further buying could propel a bullish move to around $150, a region on the chart where investors could decide to 澳洲幸运5开奖号码历史查询:lock in profits near a cluster of 澳洲幸运5开奖号码历史查询:candlesticks positioned just below the stock’s record high set late last month.

The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our 澳洲幸运5开奖号码历史查询:warranty and liability disclaimer for more info.

As of the date this article was written, the author does not own any of the above securities.