Nvidia has been having a difficult few sessions, and this is no longer just a technical correction.
There are two major developments behind the recent pressure.
First, on November 5, the broader AI and semiconductor sector faced a heavy selloff. Investors became concerned about the sustainability of AI spending, data centre expansion and whether the massive investments in AI infrastructure will generate enough returns. Nvidia dropped around 9.3% during that session.
Then another headline added to the uncertainty.
Nvidia announced that its board had opened an independent investigation after reports that CEO Jensen Huang had been targeted by a foreign intelligence operation involving alleged links to a Chinese businesswoman. Huang also acknowledged personal misconduct in a message to employees. The company stated that it currently has no reason to believe Nvidia's secrets or national security information were compromised.
This created another layer of uncertainty around leadership, governance and potential China-related scrutiny.
Now let's look at the chart.
On the 4H timeframe, NVDA has broken several important support levels. The $207–$211 bearish order block failed to hold, followed by a breakdown below $202 and then $195.
Price is now hovering around $178.34, approaching a major weekly demand area.
Levels I'm watching:
- $177–$180: Immediate support zone. Buyers need to defend this area.
- $171–$177: Next demand zone if support breaks.
- $165.75–$163.21: Deeper weekly demand.
- $191–$195: First important resistance on a recovery.
- $202.95: Key level to reclaim before the bearish structure starts weakening.
I'm not looking to catch a falling knife here. The $177 area could produce a reaction, but I want to see buyers actually step in before considering a reversal.
If price loses this support, the $171–$165 area becomes my next downside watchlist.
For now, the combination of negative headlines and weak market structure makes me cautious. I'll be watching how price reacts around $177 rather than rushing into a position.
Do you think this is just a temporary correction in NVDA, or could the selling pressure continue toward $165?
