Nvidia Falls 23.5% in 20 Days: Traders Watch 165.89 Floor

Nvidia is down 23.5% over 20 trading sessions, and Thursday's session just printed a fresh 60-day low. The gap-down open at 150.99 — far below the prior close of 173.73 — wicked to 148.8 before buyers pulled the stock back to a 166.19 close, a 4.34% loss on the day, according to technical analysis published by TradingView chartist Forexupgo.

The tape is dominating conversation on X, and the numbers explain why. This isn't a one-day shock. It's a sustained slide, and it's accelerating: over the last five sessions alone, NVDA has dropped 8.49%.

What Happened on Thursday?

The session opened with a violent gap. Three data points frame it:

• Open at 150.99, well under the previous close of 173.73
• An intraday wick down to 148.8 — a new 60-day low
• A recovery to close at 166.19, still down 4.34% on the day

The close matters most. It landed just above 165.89, the November 10 low that now serves as the floor of a 15-day trading box whose ceiling sits at 219.99. That 165.89 level held, barely, and it's the single most important number on the chart right now.

How Damaged Is the Trend?

The moving averages quantify the damage. Price sits 17.73% below the 21-day moving average at 202.01, and 23.05% below the 50-day moving average at 215.96. Both averages slope downward. The last five closes have all printed below the 50-day MA.

That's not chop. That's a trend with clear direction, and the distance to the moving averages shows how far the stock would need to travel just to repair its short-term structure. As Forexupgo puts it, the 21 MA at 202.01 is "a long way off."

The takeaway in plain words: Nvidia has traded outside its normal range for three straight weeks, and the averages are still falling to catch up.

Which Levels Decide What Comes Next?

The analysis lays out a simple decision tree grounded in daily closes.

• Floor at 165.89. A daily close below it puts the 148.8 wick back in play as the next downside target.
• Lid at 173.73. A close back above the previous close signals the wick was absorbed and sellers failed to hold the break.
• 21 MA at 202.01. Far overhead, the first meaningful trend-repair milestone.

Between the floor and the lid sits the battleground. Whichever side breaks on a closing basis defines the next leg.

What About the Calendar?

Nothing is scheduled in the analyst's data for the next 48 hours. No earnings, no catalyst, nothing that would explain or resolve the gap in the immediate window.

That absence of a scheduled catalyst cuts both ways. Gap days like Thursday's tend to stay volatile, Forexupgo notes, which is why the analysis argues for a rules-based approach: "fixes the risk before the move, not after." Define entries, stops and position size against 165.89 and 173.73 now, rather than reacting after the break.

The setup reduces to one question, in the analyst's own words: "Either the floor holds on a daily close, or 148.8 gets retested. Which one?"

For NVDA holders, the next daily close relative to 165.89 answers it — and a failure there reopens a path to the 60-day low within sessions, not weeks. The analysis carries an explicit disclaimer: not financial advice.