NVDA Elliott Wave Bullish Sequence Favors Upside
NVDA shows a bullish sequence from 10.13.2022 low favoring further upside. A 100% – 161.8% Fibonacci extension target from 10.13.2022 low can see the stock rallying to 219 – 268. Near-term cycle from 12.28.2022 low is in progress as a 5 waves impulse Elliott Wave structure. Up from 12.28.2022 low, wave (1) ended at 178.73 with internal subdivision as another 5 waves in lesser degree. Up from 12.28.2022 low, wave 1 ended at 151 and pullback in wave 2 ended at 140.34. The stock extends higher again in wave 3 towards 160.56 and pullback in wave 4 ended at 154.92. Final leg higher wave 5 ended at 178.73 which completed wave (1).
Wave (2) pullback ended at 167.23 with internal subdivision as a double three. Down from wave (1), wave W ended at 168.80, wave X ended at 173.77, and final leg wave Y ended at 167.23 which completed wave (2). Stock then resumes higher in wave (3). Up from wave (2), wave 1 ended at 195.35 and pullback in wave 2 ended at 185.80. Near term, as far as pivot at 167.23 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.
Wave (2) pullback ended at 167.23 with internal subdivision as a double three. Down from wave (1), wave W ended at 168.80, wave X ended at 173.77, and final leg wave Y ended at 167.23 which completed wave (2). Stock then resumes higher in wave (3). Up from wave (2), wave 1 ended at 195.35 and pullback in wave 2 ended at 185.80. Near term, as far as pivot at 167.23 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.
14 days trial --> elliottwave-forecast.com/amember/go.php?r=2670&i=l3 and get Accurate & timely Elliott Wave Forecasts of 78 instruments. Webinars, Chat Room, Stocks/Forex/Indices Signals & more.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
14 days trial --> elliottwave-forecast.com/amember/go.php?r=2670&i=l3 and get Accurate & timely Elliott Wave Forecasts of 78 instruments. Webinars, Chat Room, Stocks/Forex/Indices Signals & more.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.