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Nvidia Corp. (NVDA) Elliott Wave Analysis

Daily Chart Analysis

• Function: Trend
• Mode: Impulsive
• Structure: Motive
• Position: Minor Wave 2
• Direction: Upside toward wave 3 of (5)

Details:
Nvidia (NVDA) is showing signs of a potential bottom in Minor wave 2, following a deep correction. This could mark the beginning of a bullish move in wave 3 of (5). An alternative scenario suggests that NVDA may still be correcting within wave (4).

A key level to watch is $100—as long as NVDA remains above this price, it supports the wave (4) completion and strengthens the case for further upside in wave 3.

1-Hour Chart Analysis

• Function: Trend
• Mode: Impulsive
• Structure: Motive
• Position: Wave {i} of 3
• Direction: Upside in wave {i}

Details:
On the 1-hour chart, NVDA appears to be correcting within wave 2, forming a three-wave corrective structure. To confirm upside resumption, further confirmation is needed. Traders should monitor price action to validate the continuation of wave 3, presenting a key opportunity for bullish setups.

This Elliott Wave analysis provides insights into Nvidia's short-term and long-term trends, helping traders anticipate potential market movements.

Technical Analyst: Alessio Barretta

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