Nvidia stock (NVDA) collapsed more than 6% on Thursday and lost further ground afterhours.

Likewise, climbing above the top line should engender a positive move as well. Dropping below the lower line should lead to a steeper fall off before the close. The apex sits at $201.88, which bodes well for the bulls, at least for now. On the 5-minute chart below, it is easy to see that a symmetrical wedge has formed for Friday's session. At the time of writing, bulls are manning the barricades quite well. Other growth stocks are also selling off as the Nasdaq Composite sheds 0.8% at about 10:45 AM in New York. Bulls want it to bounce off this level, but bears are persuaded that Nvidia stock dropping below support at $206.50 on Thursday was the key to a broader move lower. Volume at the open ranks as one of the highest opening levels for Nvidia all year. The $200 level is key as a large psychological number. UPDATE: Nvidia shares road a wave of higher-than-normal volume on Friday morning at the open as bulls pushed the semiconductor above $204 before it slid as low as $197.28 about 12 minutes into the session.

Federal Reserve chairman Jay Powell contemplates faster rate hikes.

Netflix subscriber losses have pushed the market to abandon many other growth names.

NVDA stock has been hurt this week by Netflix earnings.

Nvda stock forecast wall