Nvidia - Elliott Wave Technical Analysis For Aug. 23

Elliott Wave Analyst - tradinglounge • Aug 23, 2022 at 7:34 AM EDT

Nvidia Stock Market Analysis: We are moving lower as expected from last week. As long as this pullback remains in three waves we can look for further upside.

NVIDIA Corp., Elliott Wave Technical Analysis

NVIDIA Inc., (NVDA): Daily Chart, August 23, 2022,
NVDA Stock Market Analysis: We are moving lower as expected from last week. As long as this pullback remains in three waves we can look for further upside. The yellow box is indicative of where I would like to see support showing off.

NVDA Elliott Wave count: {c} of 2
NVDA Trading Strategy: Waiting for confirmation of wave {c} completion to look for longs.

NVDA Technical Indicators: We are in an area where the averages are crossing each other which often times is a sign of reversal.

TradingLounge Analyst: Alessio Barretta

NVIDIA Corp., NVDA: 4-hour Chart, August 23 2022,

NVIDIA Corp., Elliott Wave Technical Analysis
NVDA Stock Market Analysis: Looking for further downside into wave (iv) and (v)to complete wave {c}.

NVDA Elliott Wave count: Wave (iii) of {c}.
NVDA Technical Indicators: They all suggest further downside, there’s no reason to believe we will move higher anytime soon.

NVDA Trading Strategy: We could eventually even place some short on wave (iv) to try to surf the final wave down to complete {c}.

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