NVIDIA Corp. (NVDA) – Elliott Wave Forecast – TradingLounge Daily Chart

NVDA Elliott Wave Forecast

Mode: Corrective

Function: Counter Trend

Structure: Flat

Position: Wave (4)

Direction: Potential Bottom in Wave (4)

Details: Monitoring the development of a potential bottom in wave (4), following a completed five-wave advance marking wave {i}, succeeded by a three-wave corrective pattern forming wave {ii}. This setup aligns with a typical Elliott Wave flat correction scenario.

NVIDIA Corp. (NVDA) – 1-Hour Chart Elliott Wave Forecast – TradingLounge 1-Hour Chart

Mode: Corrective

Function: Counter Trend

Structure: Flat

Position: Wave (c) of {ii}

Direction: Wave {ii} Nearing Completion

Details: Closely observing price action for a potential bottom in wave (c). The current decline has exceeded the 1.618 Fibonacci extension of wave (a) and is approaching the 2.0 level. A reversal from this key Fibonacci zone would support the existing Elliott Wave count. Failure to reverse here may suggest a breakdown of the current flat structure.

Technical Analyst: Alessio Barretta

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