AI chipmaker Nvidia experienced a bearish engulfing pattern after a record high, signaling a potential downside reversal. Investors should monitor key chart levels at $119 and $110 for support. Despite a lack of company-specific news, profit-taking occurred following Nvidia's significant rise amidst the AI boom. The stock's upward trend since April last year may face challenges if sentiment shifts, with $119 and $110 crucial support levels. Additionally, Nvidia's deal with Middle Eastern telecommunications giant Ooredoo to supply AI technology to data centers in five countries signifies further growth opportunities. Amid U.S. export controls on advanced chips, this partnership highlights Nvidia's expansion into new markets. Keep an eye on Nvidia's stock price as it navigates potential downside risks and explores new growth avenues in the AI industry.