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NVDA Elliott Wave Analysis Trading Lounge Daily Chart,

Nvidia Corp., (NVDA) Daily Chart

NVDA Elliott Wave Technical Analysis

FUNCTION: Counter Trend

MODE: Corrective

STRUCTURE: ZigZag

POSITION: Intermediate wave (A).  

DIRECTION: Downside in wave 3.  

DETAILS: We are looking at either a significant top in place in wave (5), or else we could be continuing higher, after a clear three wave move to the downside, leaving us with one more leg lower to come before upside resumption.

NVDA Elliott Wave Analysis Trading Lounge 4H Chart,

Nvidia Corp., (NVDA) 4H Chart

NVDA Elliott Wave Technical Analysis

FUNCTION: Counter Trend

MODE: Corrective

STRUCTURE: ZigZag

POSITION: Wave 3 of (A).  

DIRECTION: Downside in wave 3.  

DETAILS: We can see what appears to be a five wave move into wave 3. Common wave 3 targets stands at 102$ with 1.618 wave 3 vs. 1 which seems to be confirmed by volume.

Welcome to our latest Elliott Wave analysis for Nvidia Corp. (NVDA). This analysis provides an in-depth look at Nvidia's price movements using the Elliott Wave Theory, helping traders identify potential opportunities based on current trends and market structure. We will cover insights from both the daily and 4-hour charts to offer a comprehensive perspective on Nvidia's market behavior.

* NVDA Elliott Wave Technical Analysis – Daily Chart*

The daily chart indicates that NVDA has either reached a significant top in wave (5) or is poised to continue higher following a corrective phase. The recent price action shows a clear three-wave move to the downside, suggesting that one more leg lower is likely before any potential upside resumption. Traders should monitor for signs of the completion of wave 3 within this corrective phase.

* NVDA Elliott Wave Technical Analysis – 4H Chart*

The 4-hour chart shows 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.

Technical Analyst : Alessio Barretta

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