Nvidia's stock continues to face downward pressure as investors react to mixed economic signals and broader market trends. The AI-focused chipmaker has seen its shares decline, influenced by its position below the 50-day moving average, a critical technical indicator. This decline has been exacerbated by the stock falling below a significant loss threshold from a previous buy point, triggering a sell signal. The broader market environment, including lower openings for major indices like the Dow Jones, S&P 500, and Nasdaq, has also contributed to Nvidia's struggles. The anticipation of the Federal Reserve's policy meeting, with expectations of a rate cut, adds to the market uncertainty, prompting investors to reassess their positions.
The ETF Opportunities Trust T-Rex 2X Long NVIDIA Daily Target ETF (NVDX) experienced a decline, dropping 3.38% to $15.13 at 2:00 PM on Tuesday, December 17.