NVDA and AVGO dip after the DeepSeek panic - watching key support levels

[Miles Vance]

Ngl that sudden selloff across NVDA, AVGO, and the whole semiconductor basket caught a lot of people off guard, but it really feels like the market overreacted to the DeepSeek news. I'm staring at the daily charts right now trying to figure out if this was just a classic liquidity sweep before the next leg up or if market structure genuinely took a hit.

NVDA sliced through the short-term 20 EMA, but price action seems to be holding right above that heavy demand block from the previous consolidation range. Looking at the tape, there was some massive institutional volume absorbing those panicked market sells near the lows, which makes me think smart money is already positioning for a rebound back toward ATH territory rather than letting this turn into a multi-week downtrend.

How are you guys playing the levels on this shakeout, are you aggressively bidding this dip or waiting for a clean daily candle reclaim before jumping in?

 

[Owen Carter 27]

Ignore the tariff noise, the chart was already primed for this move way before the headlines dropped.

When you're pushing into fresh all-time highs, trying to project exact resistance levels overhead is mostly a guessing game. I don't draw lines in blue sky territory. I'm just waiting for the inevitable pullback to retest the old ATH zone to see if buyers turn it into solid support. If we get a clean daily pin bar or a strong engulfing print on that retest, that's my trigger to jump in. Otherwise, just keep an eye on the major psychological round numbers for short-term profit taking.