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: Intermediate wave (5). 

DIRECTION: Upside in wave (5). 

DETAILS: We are looking at a bottom in wave (4) which also ended near the area of the previous 4, very common EW tendency. Looking for further upside as we broke above 120$.

Stocks24.thumb.png.713ed8839f5e5e100c85d60574858720.png

NVDA Elliott Wave Analysis Trading Lounge 1H Chart,

NVIDIA Corp., (NVDA) 1H Chart 

NVDA Elliott Wave Technical Analysis

FUNCTION: Trend 

MODE: Impulsive 

STRUCTURE: Motive 

POSITION: Minute {iii}. 

DIRECTION: Top in wave {iii}. 

DETAILS: We are looking for an extension in wave {iii}, with common third wave target at 130$, which corresponds to the end of MG1. Looking for 130$ as upside target to be reached, to then look for a correction in {iv}.

Stocks24(1).thumb.png.247311d77955a5465ef239b8fa61b319.png

Welcome to our latest Elliott Wave analysis for NVIDIA Corp. (NVDA). This analysis provides insights into NVDA's price movements using the Elliott Wave Theory, helping traders identify potential opportunities based on current trends and market structure. We'll be exploring both the daily and 1-hour charts to offer a comprehensive perspective on NVDA's market behavior. 

The recent price action suggests that wave (4) has likely reached a bottom, coinciding with the area of the previous wave 4, a common Elliott Wave pattern. The breakout above the $120 level strengthens the case for further upside as wave (5) begins to unfold. Traders should monitor the continuation of this uptrend, as wave (5) could propel NVDA to new highs. 

In the short term, NVDA appears to be extending within wave {iii} of (5). The typical third wave target lies around the $130 level, which also corresponds to the end of Minor Level 1 (MG1). This target acts as a potential resistance level where traders should be cautious and consider a potential correction in wave {iv} after the target is reached.

Share: Feed news

As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.

Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.

The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.

Recommended content


Recommended content

Editors’ Picks

EUR/USD recovers toward 1.0500 after mixed US PMI data

EUR/USD recovers toward 1.0500 after mixed US PMI data

EUR/USD rebounds toward 1.0500 in the American session on Friday after the data from the US showed that the business activity in the private sector expanded at a softer pace than anticipated in early February. The pair remains on track to end the week with little changed.

EUR/USD News
GBP/USD rises above 1.2650, looks to post weekly gains

GBP/USD rises above 1.2650, looks to post weekly gains

GBP/USD regains its traction and trades above 1.2650 in the second half of the day on Friday. The data from the US showed that the S&P Global Services PMI dropped into the contraction territory below 50 in February, causing the US Dollar to lose strength and helping the pair edge higher.

GBP/USD News
Gold holds above $2,930 as US yields edge lower

Gold holds above $2,930 as US yields edge lower

Gold holds above $2,930 after correcting from the record-high it set above $2,950 on Thursday. Following the mixed PMI data from the US, the benchmark 10-year US Treasury bond yield stays in negative territory below 4.5% and allows XAU/USD to hold its ground.

Gold News
Crypto exchange Bybit hacked for $1.4 billion worth of ETH

Crypto exchange Bybit hacked for $1.4 billion worth of ETH

Following a security breach first spotted by crypto investigator ZachXBT, crypto exchange Bybit announced that it suffered a hack where an attacker compromised one of its ETH wallets.

Read more
Money market outlook 2025: Trends and dynamics in the Eurozone, US, and UK

Money market outlook 2025: Trends and dynamics in the Eurozone, US, and UK

We delve into the world of money market funds. Distinct dynamics are at play in the US, eurozone, and UK. In the US, repo rates are more attractive, and bills are expected to appreciate. It's also worth noting that the Fed might cut rates more than anticipated, similar to the UK. In the eurozone, unsecured rates remain elevated.

Read more
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

Forex MAJORS

Cryptocurrencies

Signatures

Best Brokers of 2025