NVIDIA Corp. (NVDA) Elliott Wave Analysis – Day Chart
NVDA Daily Chart Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Minor Wave 2
Direction: Upside toward Wave 3 of (5)
Analysis Details:
NVIDIA (NVDA) is signaling a potential bottom in Minor Wave 2, following a deep correction. This setup suggests the beginning of a bullish movement toward Wave 3 of (5). However, an alternative scenario indicates that NVDA may still be correcting within Wave (4).
A key price level to watch is $100—as long as NVDA remains above this threshold, it strengthens the probability of Wave (4) completion, reinforcing the bullish outlook for Wave 3.
NVIDIA Corp. (NVDA) Elliott Wave Analysis 1-Hour Chart
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave {i} of 3
Direction: Upside in Wave {i}
Analysis Details:
On the 1-hour chart, NVDA appears to be in a Wave 2 correction, forming a three-wave corrective structure. A breakout confirmation is required to validate the resumption of upside momentum. Traders should closely monitor price action for confirmation of Wave 3 continuation, presenting a key bullish trading opportunity.
Technical Analyst: Malik Awais
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Elliott Wave Insights for NVIDIA (NVDA)
This Elliott Wave analysis provides valuable insights into NVIDIA's short-term and long-term trends, helping traders anticipate potential market movements and optimize trading strategies.