China Halts Production of AI Chips

Nvidia shares fell today before the opening bell.

The stock fell 1.1%, and the decline is expected to continue.

This decline comes after the company announced that some suppliers

 had halted production of its H20 AI chips for export to China.

This also comes after the Chinese government called on domestic technology 

companies to stop doing business with Nvidia due to national security concerns.

The Washington administration had previously announced that

 it would issue licenses for exporting AI chips to China after reducing the tariff.

Technical Analysis of Nvidia Stock

As for the technical outlook for the stock,

Expectations still indicate a continuation of the current correction process

to reach the next support levels at $164.

If the stock closes below these support levels, the decline is expected to continue

to reach the next support areas near $153.

These are good buying areas, and we may see a return to the upside from there.