Nvidia Elliott Wave view: Bounce likely fails, downside targets $160–$188 [Video]

Elliott Wave Forecast Team ElliottWave-Forecast.com

The Elliott Wave outlook for Nvidia (NVDA) indicates that the stock is undergoing a larger three‑swing correction from its all‑time high of $236.54, recorded on May 14, 2026. From that peak, wave (A) concluded at $189.8 as a five‑swing decline. A corrective rally in wave (B) followed, terminating at $234.78. The subsequent wave (C) is now unfolding lower and subdivides into a five‑wave impulsive structure, confirming that the correction remains active.

From the wave (B) high, wave ((i)) ended at $229.43, while wave ((ii)) retraced to $233.71. The decline continued with wave ((iii)) finishing at $217.2. A modest rally in wave ((iv)) reached $222. The final leg, wave ((v)), dropped to $208.93, completing wave 1 of a higher degree sequence. At present, wave 2 is advancing as a double three corrective pattern. From the wave 1 low, wave ((w)) rose to $216.76, followed by a pullback in wave ((x)) that ended at $212.5. This structure implies that the stock is likely to continue higher, aiming to complete a seven‑swing double three formation with a potential target zone between $220 and $225. As long as the pivot at $234.7 remains intact, rallies are expected to fail after completing the corrective sequence. This outlook favors further downside once the seven‑swing structure is complete.

Nvidia 30 minute Elliott Wave chart

Nvidia Elliott Wave [Video]

Author

Elliott Wave Forecast Team

ElliottWave-Forecast.com

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