This analysis of NVIDIA Corp. (NVDA) incorporates insights from Elliott Wave Theory using both the daily and 1-hour charts. The focus is on critical support at $150 as a pivotal point in the continued upward movement in wave structures, projecting further bullish potential as long as key structural levels hold.
NVIDIA Corp. (NVDA) Elliott Wave Analysis – Trading Lounge Daily Chart
NVDA Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Minor wave 3
Direction: Upside in 3 of (5).
Details
The analysis focuses on the continuation of the uptrend into wave (5). Currently, NVIDIA is trading slightly below the Medium Level at $150, with the expectation that support above this level will confirm a bullish outlook.
NVDA Elliott Wave Technical Analysis – Daily Chart
On the daily chart, NVIDIA is advancing through Minor wave 3 of the larger wave (5). The uptrend is expected to persist, with a key focus on the $150 Medium Level as a potential support zone. A sustained hold and bounce above this level would validate the bullish scenario and signal the continuation of the rally. Successfully breaking and maintaining levels above $150 would further confirm the upward trajectory of wave (5).
NVIDIA Corp. (NVDA) Elliott Wave Analysis – Trading Lounge 1H Chart
NVDA Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave (iii) of {i}
Direction: Upside into wave (iii).
Details
The 1-hour chart highlights the progression of wave (iii) within the broader wave {i} structure. A series of ones and twos within wave {i} is building momentum to challenge the critical $150 level. The next pullback must remain above the territory of wave i to preserve the impulsive structure.
NVDA Elliott Wave Technical Analysis – 1H Chart
The 1-hour chart illustrates the formation of wave (iii) of wave {i}, signaling potential momentum toward a decisive break above the $150 level. Internal subdivisions (ones and twos) are anticipated to drive this movement. Maintaining wave integrity requires the next pullback to avoid retracing into wave i territory. A strong breakout above $150 with sustained momentum would confirm further upside in wave (iii).
Technical Analyst: Alessio Barretta
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