In a long-term uptrend, corrections are inevitable. How much the correction will be depends on each individual stock.
At the end of the session on April 17, 2024, NASDAQ:NVDA is correcting towards the MA-50 and is temporarily closing below the 10-week MA, if during the session on April 18,, the last session of this week, the stock cannot recover above it.
The stock is still in a long-term uptrend, as the 30-week MA (orange line) is still in an upward trend. Since the beginning of 2024, it has increased by 80%, so corrections of 20%-30% are completely normal.
Looking at the weekly chart, we can see that in the last 6 months of 2023, NASDAQ:NVDA had a sideways consolidation period for 6 months with a range of nearly 25%, waiting for the 30-week MA to catch up before narrowing the volatility and entering a new uptrend.
If that scenario repeats this time, NASDAQ:NVDA could correct 25% from the top to the price range around $730, waiting for the rising 30-week MA to catch up, before entering the next upswing.