(investorplace.com) Blame Pacific Crest for the 7% setback Nvidia shares suffered today. Analyst Michael McConnell started the day with his guns ablazin’, so to speak, and took dead aim at NVDA.In short, McConnell is concerned about saturation within the graphics processing market, limiting growth in the foreseeable future. His concern was significant enough to spark a downgrade of NVDA stock, to “Underweight.” He noted:“Desktop graphics card manufacturers are noting material demand deceleration in sell-through since February, with unit sales to China declining 30% to 40% q/q and to the United States declining 20% q/q in CQ1. GPU orders to NVIDIA are unlikely to meaningfully resume until July given high channel inventory of three months.” (Full article from investorplace.com)The sharp selloff today is also suggesting further weakness from a technical analysis perspective.Nvidia (NVDA) Daily Chart(click to enlarge)Double Top:- The daily chart shows that price has been moving up very smoothly throughout 2016 until the turn of the year. - In 2017 so far, price has flattened, and even completed a double top.- We then saw a rally in March, which tested the double top. - In the past couple of weeks, price stalled under 110, which was a sign that bears are taking over, or bulls are exhausted.- The 4/4 session dip confirmed respect for the double top, which suggests further bearish correction.Key Support:- While the chart suggests a bearish correction is under way, there is support in the 95-100 area. - This is a key support/resistance pivot.- A break below 95 could send price to 85, or closer to 80 (around the 200-day simple moving average). - While, we should anticipate some buying in the 95-100 area, I am more confident that bears will eventually fade the bullish attempt and continue the bearish correction that has already started. - I think a better place to set up for a buy would be 85.