Welcome to our latest Elliott Wave analysis for NVIDIA Corp. (NVDA). This analysis offers a detailed examination of NVIDIA's price movements using the Elliott Wave Theory, assisting traders in identifying potential opportunities based on current trends and market structures. We will explore insights from both the daily and 4-hour charts to provide a thorough perspective on NVIDIA's market behavior.
NVDA Elliott Wave Analysis Trading Lounge Daily Chart
NVIDIA Corp., (NVDA) Daily Chart Analysis
NVDA Elliott Wave Technical Analysis
FUNCTION: Counter Trend
MODE: Corrective
STRUCTURE: ZigZag
POSITION: Intermediate wave (A)
DIRECTION: Downside in wave 3
DETAILS: The analysis suggests a significant top in wave (5) or the potential for continued upward movement after a clear three-wave move to the downside, indicating one more leg lower before resuming upward.
NVDA Stock Technical Analysis – Daily Chart
The daily chart analysis shows that NVDA may have reached a significant top in wave (5) or is set to continue higher after a corrective phase. Recent price movements reveal a clear three-wave pattern to the downside, suggesting one more leg lower before any potential upward resumption. Traders should watch for signs indicating the completion of wave 3 within this corrective phase.
NVDA Elliott Wave Analysis Trading Lounge 4H Chart
NVIDIA Corp., (NVDA) 4H Chart Analysis
NVIDIA Corp Elliott Wave Technical Analysis
FUNCTION: Counter Trend
MODE: Corrective
STRUCTURE: ZigZag
POSITION: Wave 3 of (A)
DIRECTION: Downside in wave 3
DETAILS: The 4-hour chart reveals a five-wave move into wave 3, indicating a strong downward impulse. Common targets for wave 3 are around $102, supported by the 1.618 extension of wave 3 versus wave 1, which is confirmed by volume.
NVIDIA CorpTechnical Analysis – 4H Chart
The 4-hour chart highlights a five-wave move into wave 3, showing a strong downward impulse. Targets for wave 3 are commonly around $102, supported by the 1.618 extension of wave 3 versus wave 1. Volume analysis supports this target.
Technical Analyst: Alessio Barretta
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