NVDA appears to be nearing the completion of its corrective phase, setting the stage for a potential move to new highs. The current pattern resembles a falling wedge, indicative of an ending diagonal formation, which often signals a reversal and the start of an upward trend.
The structure of the corrective channel, along with the termination of the diagonal pattern, suggests a high likelihood of a running flat formation. Buyers are likely to intensify demand pressure as the price approaches the lower boundary of the trendline. A trend reversal may occur if there is a decisive breakout above the Wave 4 level of the ending diagonal.
Buying opportunity with minimal stop is possible after the reversal from lower side of the channel. Targets can be 112 - 120 - 132 - 140.
I'll be sharing more details shortly.
The structure of the corrective channel, along with the termination of the diagonal pattern, suggests a high likelihood of a running flat formation. Buyers are likely to intensify demand pressure as the price approaches the lower boundary of the trendline. A trend reversal may occur if there is a decisive breakout above the Wave 4 level of the ending diagonal.
Buying opportunity with minimal stop is possible after the reversal from lower side of the channel. Targets can be 112 - 120 - 132 - 140.
I'll be sharing more details shortly.
Trade active
Now, Buying opportunity above is above 101, else selling pressure will drive price to 86.
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Join telegram channel: t.me/moneydictators
For Premium Research and Elliott wave Guidance: t.me/warlockmd
For Premium Research and Elliott wave Guidance: t.me/warlockmd
Related publications
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.