Nvidia Corporation (NVDA) Elliott Wave technical analysis [Video]

Peter Mathers TradingLounge

NVIDIA Corp. (NVDA) – Daily chart

Mode: Corrective.
Function: Counter Trend.
Structure: Flat.
Position: Wave (4).
Direction: Bottom in wave (4).
Details: Exploring a possible bottom in wave (4) after a five-wave move into wave {i}, followed by a three-wave corrective move in wave {ii}.

NVIDIA Corp. (NVDA) – One-hour chart

Mode: Corrective.
Function: Counter Trend.
Structure: Flat.
Position: Wave (c) of {ii}.
Direction: Completion in wave {ii}.
Details: Watching closely for a bottom in wave (c). The price has surpassed the 1.618 level in relation to wave (a) and is approaching the 2.0 ratio. A reversal from this area would validate the current wave count; otherwise, the structure may be invalidated.

Nvidia Corporation (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.

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