Nvidia Elliot Wave Analysis
Nvidia on hourly candles respecting elliot impulse wave pattern for year 2024. Wave 2 was a classic 3 wave elliot correction wave pattern. This then breaks into wave 3 and is respecting a very tight channel upwards. Expecting 1000+, back to 900s, then price target of 1100+ post July.
Heavy chop in wave 3 due to broader market uncertainties and pressures. This stock trades with higher volatilities than others with its market cap. Trade weeklies with caution.
Good long if you're 1yr+ long or 6M+ long option calls.
My personal take: Nvidia will be the world's first 10T dollar company by 2027 and will be the world's most powerful and sought after company. Their technologies will ensure continued world peace (including in taiwan) and will be an industry leader for the next quarter century.
Only invest money you can afford to lose, not investment advice. Goodluck everyone.
*disclaimer: I have a May 17 955C position.
Heavy chop in wave 3 due to broader market uncertainties and pressures. This stock trades with higher volatilities than others with its market cap. Trade weeklies with caution.
Good long if you're 1yr+ long or 6M+ long option calls.
My personal take: Nvidia will be the world's first 10T dollar company by 2027 and will be the world's most powerful and sought after company. Their technologies will ensure continued world peace (including in taiwan) and will be an industry leader for the next quarter century.
Only invest money you can afford to lose, not investment advice. Goodluck everyone.
*disclaimer: I have a May 17 955C position.
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