If the stock is unable to hold that critical $130 price, a new phase of short-term trading patterns will begin, taking NVIDIA to a target price of $120. That would also form a short-term bearish pattern of lower highs and lower lows for NVIDIA stock.

However, Nvidia has done so well over the past few years that other investors are concerned that it may have reached its top. So, which of these two camps is right? I think that the most recent dip looks like a buying opportunity.