Is nvda chart bearish at the current moment

The current chart pattern for NVIDIA Corporation (NVDA) indicates a bearish trend.

1. Recent Price Movement: NVIDIA's stock experienced a significant drop, with a 9.53% decrease in the closing price to $108 on September 3, 2024. This is a substantial decline that suggests a bearish sentiment in the short term.

2. Technical Indicators: The technical indicators such as the Moving Average Convergence Divergence (MACD) is -2.06, and the Relative Strength Index (RSI) is 26.01. These indicators typically suggest a bearish trend as the MACD is negative and the RSI is below 50, which is the threshold for an oversold condition.

3. Moving Averages: The stock is trading below its 5-day and 10-day moving averages, which are $119.77 and $123.42, respectively. This is a bearish signal as the price is below these short-term moving averages, indicating a potential downward trend.

4. Market Sentiment: The broader market sentiment is also bearish, with increased interest in bearish products linked to NVIDIA, indicating a potential downward pressure on the stock.

In conclusion, the current chart pattern and technical indicators for NVIDIA Corporation (NVDA) suggest a bearish trend at the current moment.