Nvidia Breaks Below a Key Level!

1. Nvidia $NVDA
Bearish rumors are everywhere, and nobody is buying the denials! The stock surged from 227 before plunging to 217, making the chart look extremely ugly. Next week, the gap at 210 below will act like a magnet, pulling the stock downward. It will most likely test support at 212 or even the 208 100-day moving average. Don’t rush to buy the dip without major positive news!
2. Broadcom $AVGO
An excellent short target! As long as the stock remains firmly below 370, the 200-day moving average, it’s practically free money. There is a perfect gap at 356 waiting to be filled below. Use 370 as a strict stop-loss level. The risk-reward ratio is exceptionally high, with a direct downside target in the 356–360 range.
3. AMD $AMD
The bulls have completely run out of steam! The stock originally tried to rally on Nvidia’s earnings report, but no one followed. It has now fallen back below the key 470 level. The trend has deteriorated severely, and the stock will most likely continue grinding lower to retest the 100-day moving average.
4. Semiconductor Index ETF $SMH
The ultimate warning for the entire chip sector! SMH has been grinding lower below its 100-day moving average, with sellers beginning to take full control. If these major leaders continue to plunge, the entire semiconductor sector could face a major sell-off next week!