AI chipmaker Nvidia's stock dropped after reaching a record high on Thursday, forming a bearish engulfing candlestick pattern that warns of a potential downside reversal. Key support levels for Nvidia's stock price to watch are around $119 and $110, where the stock found support in prior minor pullbacks over the past three weeks. A break below $97 could signal further declines. Nvidia inked a deal to provide its AI technology to Middle Eastern telecom giant Ooredoo's data centers in 5 countries, but the value was not disclosed. This comes as the U.S. restricts the export of advanced chips to China.
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00:00It's Benzinga, and here's what's on the block.
00:02AI chipmaker NVIDIA stock dropped after reaching a record high on Thursday,
00:06forming a bearish engulfing candlestick pattern that warns of a potential downside reversal.
00:12Key support levels for NVIDIA stock price to watch are around $119 and $110 a share,
00:17where the stock found support in prior minor pullbacks over the past three weeks.
00:22A break below $97 could signal further declines.
00:26NVIDIA inked a deal to provide its AI technology to Middle Eastern telecom giant
00:30Oradu's data centers in five countries, but the value was not disclosed.
00:35This comes as the U.S. restricts the export of advanced chips to China.
00:38For all things money, visit Benzinga.com.