Nvidia Corp (NVDA) stocks Elliott Wave technical analysis [Video]

Peter Mathers TradingLounge

NVDA Elliott Wave Analysis Trading Lounge Daily Chart,

Nvidia Corp., (NVDA) Daily Chart.

NVDA Elliott Wave technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Minute {v}.

Direction: Upside in wave (iii).

Details: Equality of {v} vs. {i} stands at 972$, looking for resistance on top of TL1 at 1000$.

NVDA Elliott Wave Analysis Trading Lounge 4Hr Chart,

Nvidia Corp., (NVDA) 4Hr Chart.

NVDA Elliott Wave technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Wave v of (iii).

Direction: Upside in wave v.

Details: We are close to equality of (iii) vs. (i), 1.618 (iii) vs. (i) stands at 1050$.

Dive into our latest Elliott Wave analysis for NVIDIA (NVDA) Discover key price targets and potential resistance levels in our detailed NVDA stock forecast. Explore how wave patterns suggest significant movements ahead.

NVDA Elliott Wave technical analysis – Daily chart

According to the latest daily chart insights, NVIDIA is currently in Minute wave {v} of a larger wave (iii). This suggests a continuation of the upward momentum in the stock's price. Notably, the equality of wave {v} with wave {i} is projected at $972, indicating where the next significant resistance could form. Additionally, traders should be vigilant as we approach the $1000 mark, coinciding with resistance at Trading Level 1 (TL1).

NVDA Elliott Wave technical analysis – Four hore chart

The 4-hour chart refines our understanding, showing NVIDIA in the fifth wave of wave (iii). This segment of the analysis reveals a more immediate bullish.

Technical analyst: Alessio Barretta.

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.

EUR/USD tests nine-day EMA support near 1.1850

EUR/USD remains in the negative territory for the fourth successive session, trading around 1.1870 during the Asian hours on Friday. The 14-day Relative Strength Index momentum indicator at 56 stays above the midline, confirming steady momentum. RSI has eased but remains above 50, indicating momentum remains constructive for the bulls.

GBP/USD consolidates around 1.3600 vs. USD; looks to US CPI for fresh impetus

The GBP/USD pair remains on the defensive through the Asian session on Friday, though it lacks bearish conviction and holds above the 1.3600 mark as traders await the release of the US consumer inflation figures before placing directional bets.

Gold recovers swiftly from weekly low, climbs back closer to $5,000 ahead of US CPI

Gold regains positive traction during the Asian session on Friday and recovers a part of the previous day's heavy losses to the $4,878-4,877 region, or the weekly low. The commodity has now moved back closer to the $5,000 psychological mark as traders keenly await the release of the US consumer inflation figures for more cues about the Federal Reserve's policy path.