Elliott Wave view: Nvidia (NVDA) selling off in a clear impulsive structure [Video]

Elliott Wave Forecast Team ElliottWave-Forecast.com

Short-term Elliott Wave analysis in Nvidia (NVDA) suggests that the decline from the October 2026 high is unfolding as a five-wave impulsive structure. This price action indicates that the broader trend remains bearish, with the stock continuing to develop lower-degree impulsive sequences within the larger decline.

From the October 2026 peak, wave (1) ended at $210.18. The subsequent recovery in wave (2) reached $220.19 before the downtrend resumed, as shown on the 1-hour chart. Following the completion of wave (2), Nvidia began wave (3), which is subdividing into another impulsive decline at a lower degree.

Within wave (3), wave 1 ended at $200.92, followed by a corrective rally in wave 2 that concluded at $210.97. Selling pressure then accelerated during wave 3, driving the stock lower toward $179. After that decline, wave 4 produced a corrective bounce that ended at $194.90. The final leg lower in wave 5 reached $170.24, completing wave (3) at the higher degree.

After wave (3) finished, Nvidia staged a recovery in wave (4), which ended at $183.10. The stock has since resumed its decline in wave (5), signaling that the larger bearish sequence remains incomplete. The continued weakness reinforces the view that sellers retain control of the short-term trend.

In the near term, any recovery is expected to remain capped below the wave (4) high at $183.10. More importantly, the key pivot remains at $220.19. As long as price stays below these resistance levels, the Elliott Wave structure favors further downside. The stock is expected to extend lower and complete the five-wave decline from the October 2026 high. Once this impulsive bearish sequence concludes, Nvidia should attract buyers and begin a larger-degree corrective rally. However, until the current five-wave structure is complete, rallies are likely to remain corrective and present opportunities for the broader downtrend to continue.

Nvidia 60 minute Elliott Wave chart

Nvidia Elliott Wave [Video]

Author

Elliott Wave Forecast Team

ElliottWave-Forecast.com

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