Elliott Wave Forecast Team
ElliottWave-Forecast.com
Short Term Elliott Wave View in NVDA (Nvidia) suggests further upside in daily bullish sequence. It is trading in bullish weekly sequence at all time high and expect continuation against August-2024 low. In 4-Hour, it placed (1) at $131.26 high and (2) correction at $100.95 low. Above there, it favors upside in (3) of impulse sequence. It placed 1 of (3) at $120.79 high, 2 at $112.78 low, 3 at $144.50 high and 4 at $132.11 low. Currently, it favors upside in 5 of (3) from 31-October low and expect one more push higher to finish it, while dips remain above $143.57 low.
Above $132.11 low, it placed ((i)) of 5 at $139.99 high, ((ii)) at $135.35 low, ((iii)) at $149.95 high and ((iv)) at 143.57 low as double correction. Within ((iv)), it placed (w) at $146.26 low, (x) at $148.85 high and (y) as ((iv)) ended at $143.57 low. Above ((iv)) low, it favors pullback in (ii), while placed (i) at $146.49 high and expect continuation in ((v)), which confirm above $149.95 high. It expects ((v)) to extend towards $151.47 – $153.90 area as minimum extension to finish (3) started from 6-September low. Alternatively, if it breaks below $143.57 low, it should extend ((iv)) before resuming higher in ((v)) to finish (3). Later, it should pullback in (4) in 3, 7 or 11 swings sequence and buyers expect to enter again from extreme areas to resume daily bullish sequence. Alternatively, if it extends higher and erase the momentum divergence, then it should turn out to be nest in (3) and see more upside.
NVDA 30 minutes Elliott Wave chart
NVDA Elliott Wave [Video]
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