There are plenty of those investors that assume the market is turning back over after its impressive run higher over the past several months. While there may be some truth to this after many stocks have fallen lower, along with Apple’s (AAPL) weaker-than-expected earnings results, we still need more evidence to prove there is no bounce level in sight.

For a stock like Nvidia (NVDA), a stock that has been on a run unlike many others in this market, we could be closer to finding out if that is the case or not. We had been tracking a NVDA channel upwards for sometime and at the same time, a bull flag began to be forming as well. That was, until price broke below two levels that were supposed to be acting as support.

Now, the stock is looking like it may want to continue to pull back. After one channel’s support level broke, it didn’t take long for the other to break also. If bulls have any hope of propping the stock up and preventing a larger move downward, 400 is going to be the last real line of defense before the stock flushes all the way down to 370 and beyond.

Make sure to watch the video below for all the details of this trade to have on watch, so you can be sure to not miss the move.

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