Take a look at this Nvidia price level, while the shares in the news of the KI chip of the Chinese rival slip

The shares of Nvidia (NVDA) fell on Monday to achieve a four-day winning streak after the Huawei technologies of China develop a rival AI chip.

The Wall Street Journal It reported on Monday that the Chinese company hopes that the new chip could replace some of the high -performance products from Nvidia, and added that it turned to several Chinese technology companies to test the technical feasibility of the chip.

The Nvidia shares rose by about 25% compared to their early April low, but have lost about a fifth of their value since the beginning of the year at the end of Monday. In recent months, the existence of the AI ​​favorite has been under pressure because concerns about the much cheaper AI technology from China and a federal government are triggered against the export of the company's popular H20 chip.

In the following we take a closer look at the NVIDIA diagram and apply technical analyzes to identify the most important price levels that you can observe.

Falling wedge in focus

NVIDIA shares continue to vibrate in a falling wedge after a bear trap appeared on the diagram at the beginning of this month, a trading event that causes investors to sell the lower trend line of the pattern in this case after a violation of great support – before the price increases a sudden step.

In recent times, the price against the upper trend line of the pattern has imagined and possibly paved the way for a bullish outbreak. In the meantime, the relative strength index (RSI) has used the 50 threshold value, which indicates an improvement in price impulse.

Let us identify two important overhead areas in Nvidia's diagram that come into play and can also find decisive support levels that are worth monitoring a surveillance.

To observe important overhead areas

A breakout above the upper trend line of the falling wedge pattern could first see how the stocks test the level of 115 US dollars. This area can deliver an overhead resistance near the April -swing -Hochs, a place where several retreats on the diagram are also aligned until last September.

The purchase above this area can trigger a move to around 130 US dollars. Investors who bought stocks at lower prices could search for exit points in this region near the prominent August Peak and December in August and December. Interestingly, this place is also just below a beam pattern that is the step of the stock after an earlier bear trap in the table, and overlaps it from the low of this month.

Decisive support levels worth monitoring

A lower step could lead to a renewed test of the support of 96 US dollars. Investors may be looking for purchase options at this level near the swing low of the past week and two remarkable peaks that were founded on the chart in March last year.

Finally, a decisive breakdown below the lower trendlin of the falling wedge pattern was able to examine the Nvidia shares around 87 US dollars. This area in the table can be supported low near the bear trap and organized with a series of price campaign between March and May last year.

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Until the date on which this article was written, the author has none of the above securities.