NVIDIA Corp. (NVDA) Elliott Wave technical analysis [Video]
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NVIDIA Corp. (NVDA) Elliott Wave analysis
Daily chart analysis
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Function: Trend.
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Mode: Impulsive.
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Structure: Motive.
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Position: Minor Wave 2.
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Direction: Upside toward wave 3 of (5).
Details:
NVIDIA (NVDA) is showing signs of a potential bottom in Minor wave 2, following a deep correction. This could mark the beginning of a bullish move in wave 3 of (5). An alternative scenario suggests that NVDA may still be correcting within wave (4).
A key level to watch is $100—as long as NVDA remains above this price, it supports the wave (4) completion and strengthens the case for further upside in wave 3.
One-hour chart analysis
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Function: Trend.
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Mode: Impulsive.
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Structure: Motive.
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Position: Wave {i} of 3.
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Direction: Upside in wave {i}.
Details:
On the 1-hour chart, NVDA appears to be correcting within wave 2, forming a three-wave corrective structure. To confirm upside resumption, further confirmation is needed. Traders should monitor price action to validate the continuation of wave 3, presenting a key opportunity for bullish setups.
This Elliott Wave analysis provides insights into NVIDIA's short-term and long-term trends, helping traders anticipate potential market movements.
NVIDIA Corp. (NVDA) Elliott Wave technical analysis [Video]
Author
Peter Mathers
TradingLounge
Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.
