NVDA Elliott Wave Analysis Trading Lounge Daily Chart,

NVIDIA Corp., (NVDA) Daily Chart 

NVDA Elliott Wave Technical Analysis

FUNCTION: Counter trend

MODE: Corrective

STRUCTURE: Flat 

POSITION: Intermediate wave (4). 

DIRECTION: Downside in wave (4). 

DETAILS: At this point we are looking for a three wave move in wave (4), with equality of C vs. A as target at 84$.

(Click on image to enlarge)

NVDA Elliott Wave Analysis Trading Lounge 1H Chart,

NVIDIA Corp., (NVDA) 1H Chart 

NVDA Elliott Wave Technical Analysis

FUNCTION: Countertrend 

MODE: Corrective 

STRUCTURE: Flat 

POSITION: Minor wave C. 

DIRECTION: Downside within wave C. 

DETAILS: Looking for further downside within wave C as we seem to be unfolding lower. We could expect a bounce in wave {iv} as we hit TL1 at 100$.

(Click on image to enlarge)

This analysis provides an Elliott Wave interpretation for NVIDIA Corp. (NVDA) based on both the daily and 1-hour charts. It outlines the current corrective trend and the key levels to watch as the stock navigates through a significant wave (4) correction. 

* NVDA Elliott Wave Technical Analysis – Daily Chart* 

NVIDIA is in a corrective structure, likely a flat correction, unfolding as a three-wave move. Currently, the stock is moving lower within wave C, and the next target for wave (4) is set at 84$, where equality between wave C and wave A is expected. This suggests a deeper correction before the resumption of the long-term trend. 

* NVDA Elliott Wave Technical Analysis – 1H Chart* 

NVIDIA is currently progressing lower in wave C, and the next key support level is expected around 100$, near Trading Level1 (TL1). A bounce in wave {iv} of C could occur around this level before the final push lower to complete the correction. This would align with the structure's flat pattern, where wave C typically unfolds as a five-wave move.

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