Watch These Nvidia Price Levels as Stock Continues Retreat From Record High [Video]

Nvidia (NVDA) shares slumped nearly 9% last week as investors scaled back bets in some of this year’s top performing artificial intelligence (AI) chipmakers over mounting concerns about tougher trade restrictions and geopolitical risks.

Below, we take a closer look at the AI darling’s technicals and point out important price levels to eye amid the potential for heightened volatility.

Nvidia shares remain in a long-term uptrend, with the 50-day moving average (MA) sitting comfortably above the 200-day MA. However, the AI chipmaker’s stock has traded sideways to lower after setting its record high last month.

Importantly, volume has also trended lower since that time, potentially indicating slowing momentum, or possibly just a pause in the trend, after the stock’s groundbreaking gains fueled by insatiable enterprise demand for chips that power AI infrastructure.

Over the coming weeks, investors should watch several key areas on Nvidia’s chart that could come into play.

The first …