And a death cross suggests negative momentum is picking up and that it could become a lasting trend. Now let's consider how Nvidia stock performed following its last death cross -- back in April of 2022. The measure was an accurate predictor of what was to come, as Nvidia stock sank about 45% from that point through the rest of the year.

Nvidia (NASDAQ: NVDA) has been one of the companies that have been in the crosshairs of investors dumping stocks amid the market downturn. This shouldn't surprise anyone since Nvidia has been one of the best-performing stocks over the past few years,

As you can imagine, to fill such an area, companies need to purchase a lot of GPUs. Without a doubt, no company has a hold on the AI GPU market like Nvidia (NASDAQ: NVDA) and it's been handsomely rewarded for it.