Nvidia: Potential BreakdownNVIDIA CorporationBATS:NVDATradeStationNvidia has been stalling for months, and now some traders may think it’s breaking down. The first pattern on today’s chart is the potential double top between the peaks of November 20 and February 25. Second, NVDA dropped sharply after that potential reversal pattern. It retraced about half the move before stalling, which may confirm its direction has turned bearish. Third, the mid-March closing highs were also near the February 26 closing price of $184.89. That could indicate resistance has been established around a prior low. Fourth, the chip giant spent most of last week under its 200-day simple moving average -- a potential sign of longer-term bearishness. Fifth, the 8-day exponential moving average (EMA) is below its 21-day EMA. MACD is also falling. Those patterns may reflect short-term bearishness. Next, the stock bounced a few times near its November 25 low of $169.55. However, it closed under that level on Friday. Is support breaking? Finally, NVDA is a highly active underlier in the options market. (Its average daily volume of 2.9 million contracts ranks first in the S&P 500, according to TradeStation data.) That could help traders take positions with calls and puts. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. If you're born to trade, we could be for you. Learn more here about TradingView’s Broker of the Year! Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com/DisclosureOptions. Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com/Important-Information/. System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors. Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges. Options trading is not suitable for all investors. Your TradeStation Securities’ account application to trade options will be considered and approved or disapproved based on all relevant factors, including your trading experience. See www.TradeStation.com/DisclosureOptions. Visit www.TradeStation.com/Pricing for full details on the costs and fees associated with options. Margin trading involves risks, and it is important that you fully understand those risks before trading on margin. The Margin Disclosure Statement outlines many of those risks, including that you can lose more funds than you deposit in your margin account; your brokerage firm can force the sale of securities in your account; your brokerage firm can sell your securities without contacting you; and you are not entitled to an extension of time on a margin call. Review the Margin Disclosure Statement at www.TradeStation.com/DisclosureMargin. TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com/DisclosureTSCompanies for further important information explaining what this means.