Concerns Around Nvidia Continue to GrowNVIDIA CorporationBATS:NVDAFOREXcomRecent trading sessions have not been particularly favorable for Nvidia shares. Since the beginning of last week, the stock has not only fallen below the key $200 level but has also reached prices not seen since the final days of April. Overall, the stock has now lost more than 10% of its value over the short term. For now, this weakness is being driven by several factors. First, last week's Democratic victory has increased concerns about a potentially more restrictive regulatory environment for the artificial intelligence industry in the United States. This has been compounded by recent reports that an investigation has been launched following claims that Jensen Huang, the company's CEO, was the target of a foreign intelligence operation. Together, these developments have begun to weigh on Nvidia's growth outlook in the short term while also introducing new concerns regarding the company's internal environment. As a result, selling pressure continues to gain momentum and could remain an important factor over the coming sessions. Bearish Momentum Begins to Gain Relevance Over the past several sessions, weakness in Nvidia shares has been sufficient to break below the long-term bullish trendline that had dominated price action for months. The stock is now trading near some of the most important lows on the chart, a development that could gradually pave the way for a new short-term bearish trendline to emerge as the dominant technical structure in the weeks ahead. MACD The MACD histogram continues to develop well below the 0 neutral line, reflecting a meaningful bearish dynamic within short-term moving averages. As long as this reading remains in place, selling pressure could continue to dominate price action during the coming sessions. RSI The RSI is showing a similar picture, as the indicator remains below its neutrality level. However, it is also important to note that the RSI has already moved close to the 30 oversold threshold, a reading not seen in several months. This situation may begin to signal an excessive amount of recent selling pressure and could eventually open the door to short-term bullish corrections. Key Levels to Watch $195 – Key Resistance: This represents the most important upside barrier on the chart. The level is located near the psychological $200 per share area and also develops close to the 200-period simple moving average. Price action returning toward this reference could highlight a more pronounced lack of direction and potentially favor a broader range-bound phase in the weeks ahead. $181 – Near-Term Barrier: An important retracement area that currently represents the closest level to monitor in the event of short-term bullish corrections. $166 – Critical Support: A level that corresponds to Nvidia's most important lows of 2026. Price action consolidating around or below this area could signal a significant shift in market structure and begin opening the door to a more established bearish trend over the coming weeks. Written by Julian Pineda, CFA, CMT – Market Analyst