Nvidia’s stock was dropping 4.2% in recent trading, which would be its biggest decline so far this month.
The stock has now shed 5.6% since closing at a record $148.88 on Nov. 7, and has now retraced 92.6% of the two-day post-election rally, from the Nov. 5 close of $139.91 to that record close.
The pullback, to the intraday low of $140.50, marks a fourth-point on a two-month uptrend line starting at the Sept. 6 intraday low of $100.95. Falling below that trendline would warn of the start of a short-term selloff, that could test first support at the last point on the trendline at $132.11.
A 50% retracement of that uptrend would be around $125.36.