Elliott Wave Technical Analysis: Nvidia Corporation

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) – 1-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.