--- title: "Option call bets cooling down, NVIDIA's decline not stopping?" type: "News" locale: "en" url: "https://longbridge.com/en/news/207178606.md" description: "NVIDIA's stock price sharply pulled back, leading to a reversal in stock and options trading volumes, with a decrease in options trading activity. Trading activities indicate a lack of confidence. Despite NVIDIA's stock price soaring for a period of time, cash trading is declining. The stock price has fallen for three consecutive days, with a market value evaporating by $430 billion, and technical analysis suggests a possible bottoming out. Despite the pullback in stock price, it has still risen by nearly 140% year to date. The fluctuation of NVIDIA's stock price has attracted market attention" datetime: "2024-06-25T11:26:06.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/207178606.md) - [en](https://longbridge.com/en/news/207178606.md) - [zh-HK](https://longbridge.com/zh-HK/news/207178606.md) --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/207178606.md) | [繁體中文](https://longbridge.com/zh-HK/news/207178606.md) # Option call bets cooling down, NVIDIA's decline not stopping? Kingsview Partners Chief Technical Analyst Buff Dormeier said that this sudden pullback includes some signs of surrender. He referred to the 1:10 stock split announcement made last month, saying, "After all this good news - the split, becoming the largest company - this situation is worrying." "Dormeier expects the short-term support level to be around $115, with the next important support level at $100. ![f07c845d0b594b41f4121ed3ee125c9.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20240625/1719313000469688.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) The $115 area of NVIDIA's stock price is close to the key "Fibonacci retracement level," which is a tool used by technical analysts to determine support or resistance levels for stocks and other assets. The stock has retraced about 38.2% from its intraday low in April to last week's record high, which is approximately 2% lower than Monday's closing price. Oppenheimer's Chief Technical Analyst, Ari Wald, believes that for NVIDIA, the long-term trend is more important than any specific level, and the long-term trend remains strong, with the stock well above the 50-day moving average of around $101 and the 100-day moving average of around $92. In an interview, he said, "Typically, topping is a process, with several rounds of buying and selling, and then the price gradually shows weakness, failing to hold key levels. We haven't seen that yet. That's how NVIDIA trades." ![1372cec880745e35a3715e4ac12c77b.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20240625/1719313007170983.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) While Wald, like Dormeier, believes that NVIDIA's long-term uptrend will not change, he is still keeping an eye on the key level of $100. Bruce Zaro, Chief Technical Strategist at Granite Wealth Management, stated: "For stocks like NVIDIA that are in an uptrend, breaking the first support level is not a cause for concern." However, he mentioned that if the price falls below $100, it would be very bad. Zaro explained, "This may not have a long-term impact, but it will indicate that you should remain patient, especially as we wait for the elections and the Fed weighs interest rates, the market may experience volatility and a downward bias." ### Related Stocks - [NVIDIA Corporation (NVDA.US)](https://longbridge.com/en/quote/NVDA.US.md) - [GraniteShares 2x Long NVDA Daily ETF (NVDL.US)](https://longbridge.com/en/quote/NVDL.US.md) - [VanEck Semiconductor ETF (SMH.US)](https://longbridge.com/en/quote/SMH.US.md) - [Direxion Daily Semicondct Bull 3X ETF (SOXL.US)](https://longbridge.com/en/quote/SOXL.US.md) ## Related News & Research - [08:01 ETInnofiber, Acrolite, and PAVE Technology Co. Combine to Form Connexis Group, a Leading Provider of High-Performance Interconnect Solutions](https://longbridge.com/en/news/281362986.md) - [TSMC Gets Nod to Deploy 3nm Process at Japan Fab](https://longbridge.com/en/news/281343240.md) - [What's Going On With SEALSQ Stock Wednesday?](https://longbridge.com/en/news/281403873.md) - [Micron Revenue Smashes Expectations, but Wall Street Yawns](https://longbridge.com/en/news/281414796.md) - [Nvidia’s $2 Billion Investment in Marvell: What Kind of Company Is Marvell?](https://longbridge.com/en/news/281372238.md)