Nvidia (NVDA) shares fell Monday after the Trump administration said over the weekend it would impose tariffs on major trading partners, adding to the stock's steep losses last week 𒅌that💖 were fueled by concerns related to Chinese startup DeepSeek's low-cost AI model.

The tariffs, which impose 25% levies on Mexican and most Canadian imports, and 10% on all goods from China, have prompted concerns of a broader global 澳洲幸运5开奖号码历史查询:trade war that could see countries introduce 澳洲幸运5开奖号码历史查询:counter measures on items, including American AI chips.

Nvidia shares were down more than 2% at around $117 in late trading Monday, after falling 16% 澳洲幸运5开奖号码历史查询:last week following the revelation of 澳洲幸运5开奖号码历史查询:DeepSeek's success, which spar🐎ked concerns that Big Tec🐠h’s investment in the chipmaker's pricey AI offerings could wane.

Nvidia shares have lost nearly a quarter of their value 🔜since hitting a record high in e🔥arly January but are still up about 80% over the past 12 months.

Below, we zoom out on Nvidia’s 澳洲幸运5开奖号码历史查询:weekly chart to identify key long꧑e🃏r-term price levels worth watching.

Rising Wedge Breakdown

Nvidia shares broke down below a seven-month 澳洲幸运5开奖号码历史查询:rising wedge pattern last week on the highest trading volume since August 2023, suggesting 澳洲幸运5开奖号码历史查询:institutional selling participation.

Moreover, the 澳洲幸运5开奖号码历史查询:relative strength index (RSI) fell below the 50 threshold to 𓆉i🦹ts lowest level since December 2022, confirming increasing selling momentum.

Amid increasing market 澳洲幸运5开奖号码历史查询:volatility, let’s identify key 澳洲幸运5开奖号码历史查询:support and resistance levels that investors may be watching.

Key Support Levels to Watch

A 澳洲幸运5开奖号码历史查询:breakdown below the 50-period MA this week could see Nvidia shares fall to around $96, a location on the chart where they may find support near the March peak and August trough.

The next lower support level to watch sits around $76. Buyers may look for 澳洲幸运5开奖号码历史查询:entry points in this area near the April pullback low that formed toward the end of the stock’s strong trending period between October 2022 and June last year.

A close below this region opens the door for a more significant 澳洲幸运5开奖号码历史查询:correction down to the 澳洲幸运5开奖号码历史查询:psychological $50 level. The shares may attract support in this location near the 200-period MA, which also currently aligns with the stock’s A⛦ugust and Novembe💞r 2023 peaks.

Important Resistance Levels to Monitor

Upon a recovery, investors should initially monitor the $130 level, an area where the stock could enco😼unter selling pressure near the August 2024 peak ꧙and December trough.

Finally, follow-through buying could see Nvidia shares revisit the $150 level. Investors who have bought during the recent selloff could look to 澳洲幸运5开奖号码历史查询:lock in profits near a series of price points situatꦦed just below the stock’s record high.

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