NVIDIA's stock price has fallen for three consecutive days, with a total market value evaporating by $430 billion. Where is the next support level?Analysts have provided predictions from a technical analysis perspective: $115 and $100.Buff Dormeier, Chief Technical Analyst at Kingsview Partners, believes that the sudden drop in NVIDIA's stock price may indicate some investors taking profits early. He said, &#34;After experiencing the news of NVIDIA's 1-for-10 stock split last month and reaching the top market value this month, the continuous decline in NVIDIA's stock price is worrying.&#34; Dormeier believes that NVIDIA's short-term support level is around $115, with the next important support level at $100.Since last Tuesday when NVIDIA briefly became the world's largest company by market value, as of Monday's close, NVIDIA's closing price was $118.1, down nearly 16% from its peak of $140. This also marks NVIDIA's first technical pullback since April, defined as a stock price decline of 10% or more from recent highs.According to Dormeier's technical analysis viewpoint, if NVIDIA's stock price falls to around $115, it will encounter a key Fibonacci retracement level, which is also the nearest short-term support level. Fibonacci retracement, as an indicator in technical analysis, although not 100% accurate, can provide investors with a reference idea.<h2>Despite the recent consecutive declines, NVIDIA's long-term trend remains stable</h2>Benefiting from the boom in artificial intelligence, NVIDIA's GPUs have been continuously sought after in the market, leading to a soaring stock price this year. From the financial report released on May 22 and the announcement of the stock split, to reaching a historical high on June 18, NVIDIA's stock price rose by 43%, with a market value reaching $3.34 trillion, surpassing Microsoft's $3.32 trillion. Although NVIDIA has fallen for 3 consecutive days, the cumulative increase for this year is still 139%, and the long-term upward trend remains stable.Ari Wald, Head of Technical Analysis at Oppenheimer, pointed out that for NVIDIA, the long-term trend is more important than any specific stock price point. Currently, NVIDIA's long-term uptrend remains strong, with the stock price still well above the 50-day moving average around $100 and the 100-day moving average of $92.Wald stated, &#34;Generally, the formation of a major price top requires a process, with several rounds of buying and selling, followed by a gradual decline in price momentum, and then key levels will be breached. We have not yet seen these signs.&#34;Bruce Zaro, Chief Technical Strategist at Granite Wealth Management, also noted, &#34;For stocks like NVIDIA that are in an uptrend, breaking the first support level at $115 is not a big issue, but falling below $100 would be concerning.&#34;Zaro said: &#34;(Breaking 100) may not have a long-term impact, but it means that investors should be more patient, especially in periods when the market may experience severe volatility and declines, as there are still the upcoming U.S. presidential election and the Federal Reserve's interest rate decisions to help investors make further decisions.&#34;

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Analysts have provided forecasts from a technical analysis perspective: NVIDIA's short-term support is around $115, with the next significant support at $100

1. Core descriptive facts: NVIDIA's stock price has dropped for three consecutive days, resulting in a cumulative market value loss of $430 billion. The next support levels predicted by technical analysis are at $115 and $100.
2. Views and supporting logic:
   - Analyst Buff Dormeier suggests that the sudden decline in NVIDIA's stock price may indicate profit-taking by some investors following positive news such as the stock split announcement and market value milestones. He identifies short-term support levels at around $115 and a significant support level at $100.
   - Despite the recent consecutive declines, the long-term trend for NVIDIA remains stable due to the continuous demand for its GPUs driven by the AI trend. The stock had a significant rise earlier in the year, maintaining a 139% increase despite the recent drops.
   - Analyst Ari Wald emphasizes the importance of the long-term trend for NVIDIA, stating that it remains strong and significantly above key moving averages. He notes that the formation of major price tops usually involves a process of buying and selling rounds, which is not yet evident for NVIDIA.
   - Strategist Bruce Zaro highlights that for stocks like NVIDIA in an upward trend, breaking the $115 support level may not be a major concern, but dropping below $100 would raise worries.
Overall, the article conveys the message that while NVIDIA has experienced a significant market value loss and short-term price declines, the long-term trend remains robust. Technical analysts provide insights into potential support levels and emphasize the importance of monitoring key price points for NVIDIA's stock performance.

Market Focus: After three consecutive declines, where will NVIDIA fall to?