Nvidia Corp. headquarters in Santa Clara, California. Photo by Justin Sullivan/Getty Images files

Nvidia Corp. is on track for its first close below a key technical level since May as investors continue to rotate out of the leading maker of artificial intelligence chips.

The stock fell as much as four per cent to US$167.22 on Tuesday, set for a fourth straight negative session and dropping below its 50-day moving average of US$171.02. Breaking under this closely watched level is seen as a negative sign of near-term momentum trends.

“This shows how the momentum has broken down, and it makes me concerned about the stock over the short term,” said Buff Dormeier, chief technical analyst at Kingsview Partners, referring to the 50-day moving average.

Dormeier sees US$160 as the next le

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