NVIDIA appears to be approaching the completion of the fifth NVIDIA (NVDA) Chart Analysis
NVIDIA appears to be approaching the completion of the fifth subminuette wave within wave 3 (yellow). This aligns with a smaller impulsive wave structure, signaling a potential short-term peak in this cycle.
Expected Movements:
• Wave 4 Correction: After completing this fifth wave, a corrective wave 4 could emerge, retracing part of the recent bullish move. This correction would likely establish a base for the next rally.
• Grand Supercycle Wave III (Red): Following the wave 4 pullback, NVIDIA may restart a new cyclical 5-wave bull pattern within the grand supercycle wave III. This structure represents long-term bullish potential.
Key Levels to Monitor:
• Support and resistance levels during wave 4.
• The formation of wave 5 for potential continuation or divergence.