NDVA weekly view. Headline risks.NVIDIA CorporationBATS:NVDAnaturner1966Nvidia has been pulling back from the $190 level since the start of the war and is currently sitting below the 200d sma. Big tech is under pressure from rising oil prices, a stronger dollar and a possible self-induced recession if oil prices remain elevated. I have outlined two balanced area's on the chart; Balance Area #1 and Balance Area #2. I still have a bullish bias on the chart as long as price stays in Balance Area #2. Since late 2022 NVDA stock does not fall below the 40's RSI level very often on the weekly. Therefore there could be a chance we get an oversold bounce soon. If this occurs then I believe we could bounce back up to the 200d ma ($179)- roughly a 7% move. If we do and it rejects then I think it's possible we reject all the back down to the bottom of Balance Area #2 ($149). Or, If you take the top of Balance Area #1 and measure the percent move down to the bottom, it is 41%. The price has moved down 19% since the ATH. If you add another 21% to total the 41% move from Balance Area #1 you get $122; falling outside of Balance Area #2 and about 50% into Balance Area #2. I don't think NVDA is a trade unless it can reclaim the 8d sma (approx. $174).