Watch These Key Chart Ranges After Bearish Engulfing PatternSource: TradingView.comKey TakeawaysAI chipmaker Nvidia stays within the highlight after shares dropped from a report excessive reached Thursday and information that it’s going to provide Center Japanese telecommunications big Ooredoo with its know-how.Thursday’s intraday reversal in Nvidia shares created a bearish engulfing sample, a candlestick formation that warns of a possible draw back reversal, particularly after a big value advance.Buyers could keep watch over chart ranges round $119 and $110, each areas the place the inventory may discover help from minor pullbacks over the previous three weeks.Synthetic intelligence (AI) chipmaker Nvidia (NVDA) stays within the highlight after shares dropped from a report excessive reached Thursday and information that it’s going to provide Center Japanese telecommunications big Ooredoo with its know-how.Regardless of little in the best way of company-specific bulletins late final week, buyers could have used a uncommon second of broad market weak spot for revenue taking following the inventory’s meteoric rise this 12 months amid the AI increase.Monitor These Ranges Amid Bearish Engulfing PatternSince discovering help across the 50-day shifting common in April final 12 months, Nvidia shares have tracked sharply greater, with buyers viewing any dips as shopping for alternatives. Nevertheless, Thursday’s intraday reversal from their all-time excessive (ATH) created a bearish engulfing sample, a candlestick formation that warns of a possible draw back reversal, particularly after a big value advance.If Nvidia’s value continues to retrace this week amid a shift in sentiment, buyers could keep watch over chart ranges round $119 and $110, each areas the place the inventory may discover help from minor pullbacks over the previous three weeks. A failure to carry these key areas may see the shares revisit a horizontal line close to $97 that connects a number of prior report highs.Center Japanese AI Tech DealSeparately, Nvidia has inked a deal to roll out its AI know-how at knowledge facilities owned by Qatari multinational telecommunications big Ooredoo situated in 5 Center Japanese international locations, the Doha-based firm’s CEO instructed Reuters in an interview on Sunday.Whereas Ooredoo didn’t disclose the worth of the deal, it stated it will present its knowledge heart purchasers in Qatar, Algeria, Tunisia, Oman, Kuwait, and the Maldives with entry to Nvidia’s AI and graphics processing know-how.”Our business-to-business (B2B) purchasers, because of this settlement, could have entry to companies that most likely their opponents (will not) for one more 18 to 24 months,” stated Ooredoo CEO Aziz Aluthman Fakhroo.Story continuesThe deal comes at a time when U.S. Officers have tightened export controls on superior U.S. chips to curb China accessing refined AI know-how by way of the Center East.The feedback, opinions, and analyses expressed on Investopedia are for informational functions solely. Learn our guarantee and legal responsibility disclaimer for more information.As of the date this text was written, the writer doesn’t personal any of the above securities.Learn the unique article on Investopedia.