Key Takeaways
- Nvidia shares fell on Monday to snap a four-day winning streak following news that China’s Huawei Technologies is developing a rival AI chip.Â
- The stock has pushed up against the upper trendline of a falling wedge pattern, potentially paving the way for a bullish breakout.
- Investors should watch key overhead areas on Nvidia’s chart around $115 and $130, while also monitoring crucial support levels near $96 and $87.
Nvidia (NVDA) shares fell on Monday to snap a four-day winning streak following news that China’s Huawei Technologies is developing a rival AI chip.
The Wall Street Journal reported Monday that the Chinese company hopes the new chip could replace some of Nvidia’s high performance products, adding that it…
