Nvidia (NVDA) shares tumbled nearly 7% Wednesday after 澳洲幸运5开奖号码历史查询:the company said it’s set to take a $5.5 billion charge as a result of U.S. restrictions on exports of its AI chips to China.

The company said via a regulatory filing that it would be required to have an export license to sell its popular H20 chips to China amid concerns they could be used by Beijing to build a 澳洲幸运5开奖号码历史查询:supercomputer. The development caught market watchers off guard, given Nvidia designed the H20 澳洲幸运5开奖号码历史查询:graphics processing units (GPUs) to comply with Biden-era chip export curbs on advanced chips the former administration thought could be used by foreign adversaries.

Nvidia shares have staged a modest recovery above this month’s low but have lost about a firth of their value since the start of the year as of Wednesday’s close amid uncertainty over Washington's 澳洲幸运5开奖号码历史查询:trade policies and 澳洲幸运5开奖号码历史查询:big tech AI spending.

Below, we take a closer look at Nvidia’s chart and apply 澳洲幸运5开奖号码历史查询:technical analysis to poin🍨t out key price levels worth watching out for.

Doji Candlestick Pattern Indicates Indecision

After attracting buying interest near the lower trendline of a 澳洲幸运5开奖号码历史查询:falling wedge pattern last w🅷eek, Nvidia shares rallied sharply before running into selling pressure near the pattern’s top trendline.

It’s worth noting that although the stock fell sharply in Wednesday’s trading session, the price formed a doji, a candlesti༒ck pattern su𒆙ggesting indecision between buyers and sellers.

Let’s identify key 澳洲幸运5开奖号码历史查询:support and resistance levels on Nvidia’s c♍hart that investors may be mon♍itoring.

Key Support Levels to Watch

Nvidia shares fell 6.9% to close Wednesday's session at $104.49.

Further selling in the stock could initially see the price revisit support around $96. This area may attract buyers near last year’s prominent March twin peaks, a location on the chart also situatedಌ just above this month’s tariff-driven low.

The bulls’ failure to defend the April low could trigger a larger drop to the $76 level. Investors may look for 澳洲幸运5开奖号码历史查询:buy-and-hold entry points in this region near last April’s notable 澳洲幸运5开奖号码历史查询:swing low.

Important Resistance Levels to Monitor

A volume-backed breakout above the falling wedge pattern’s top trendline could drive a move to around $130, currently just above the 澳洲幸运5开奖号码历史查询:200-day moving average. The shares may face overhead r♑esistance in this area near the August peak and Decemb🙈er trough.

Finally, buying above this level could see Nvidia shares climb to $150. Investors may decide to 澳洲幸运5开奖号码历史查询:lock in profits at this price near several peaks that formed on the chart just below the stock’s 澳洲幸运5开奖号码历史查询:record high set in early January.

This area also aligns with a projected measured move 澳洲幸运5开奖号码历史查询:price target that calculates the depth of the falling wedge in points and adds that amount to the pattern’s upper trendline. For instance, adding $40 to $110 forecasts an upside target of $150.

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