In another day of stock market sell-off, a bullish NVDA completed a double bottom, which has been forming since December. NVDA Daily Chart 1/7(click to enlarge)This is a strong market, so I would limit the bearish outlook. The most aggressive bearish outlook should be limited to 24. However a more sensible one would be around 28, and a conservative bearish target could be 30. Aggressive Bullish Outlook: Basically, in a strong bullish market, the daily RSI should hold above 40, and price would likely find support around the psychological level of 30. Maybe, you can anticipate some further bearish correction to close a gap from November. Bottomline - an aggressive bullish outlook translates to a conservative bearish outlook here. Significant Correction: Now, if this is a significant consolidation that will last another month or 2, we might anticipate further downside and look for the RSI to dip to 30. Price might fall further to the 100-day SMA around 27.50-28. A few news coverage/assessment on NVDA: http://seekingalpha.com/article/3793666-nvidia-some-perspective http://investorplace.com/2016/01/bull-day-nvidia-nvda/http://www.thestreet.com/story/13411096/1/will-nvidia-nvda-stock-be-helped-by-new-virtual-reality-gaming-system.html