Elliott Wave View: NVDA Bullish Momentum Looking for More Upside

Elliott Wave View: NVDA Bullish Momentum Looking for More Upside

May 23, 2023 By EWFHendra

Short term Elliott Wave View in Nvidia Corporation (ticker: NVDA) suggests that rally from 4.26.2023 low is unfolding as a 5 waves impulse Elliott Wave structure with extension. Up from 4.26.2023 low, wave ((i)) ended at 290.58 and dips in wave ((ii)) ended at 272.40. Stock has resumed higher in wave ((iii)) which subdivides into another 5 waves in lesser degree. Up from wave ((ii)), wave i ended at 276.6 and wave ii ended at 273.80. Wave iii ended at 287.55, pullback in wave iv ended at 283.50, and final leg wave v ended at 292.20 which completed wave (i).

Pullback in wave (ii) ended at 280.42 with internal subdivision as a zigzag structure. Down from wave (i), wave a ended at 284.5, wave b ended at 291.13, and wave c ended at 280.42. This completed wave (ii). The stock has resumed higher in wave (iii). Up from wave (ii), wave i ended at 298.70 and pullback in wave ii ended at 291.84. Wave iii ended at 318.24, pullback in wave iv ended at 312.50, and wave v higher ended at 319.08 which completed wave (iii). Pullback in wave (iv) ended at 306.80 with internal subdivision as a zigzag. Near term, while above 306.80, and more importantly above 280.42, expect stock to extend higher.

NVDA 60 Minutes Elliott Wave Chart

NVDA Elliott Wave Video

Source:https://elliottwave-forecast.com/news/nvda-bullish-momentum-looking-upside/

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment17

  • Top
  • Latest
  • ClarenceNehemiah
    ·2023-05-24
    TOP

    The 20-day simple moving average for NVDA stock is $287.66, and the 50-day SMA is $274.63. Both of these moving averages are currently above the stock price, which is a bullish signal. $英伟达(NVDA)$

    Reply
    Report
  • CaesarHicks
    ·2023-05-24

    Well, the technical analysis for $英伟达(NVDA)$ stock is mixed. The price is currently below the 50-day SMA, but the RSI and MACD indicators are both in the bullish zone.

    Reply
    Report
  • FrankRebecca
    ·2023-05-24

    The Relative Strength Index (RSI) for NVDA stock is currently at 49.28, which is in the neutral zone.

    Reply
    Report
  • TIGGER EK
    ·2023-05-26
    Great ariticle, would you like to share it?
    Reply
    Report
  • Egging
    ·2023-05-25
    Great ariticle, would you like to share it?
    Reply
    Report
  • NZH1998
    ·2023-05-25
    Great ariticle, would you like to share it?
    Reply
    Report
  • Lexcool
    ·2023-05-25

    Great ariticle, would you like to share it?

    Reply
    Report
  • Silvy lim
    ·2023-05-26

    学以致用

    Reply
    Report
  • Wong888888
    ·2023-05-26

    Thanks 

    Reply
    Report
  • xiaowoo
    ·2023-05-26
    Reply
    Report
  • wendytan
    ·2023-05-26
    k
    Reply
    Report
  • wendytan
    ·2023-05-26
    m
    Reply
    Report
  • Nggimseng
    ·2023-05-25
    Nice
    Reply
    Report
  • Cory2
    ·2023-05-24
    👍
    Reply
    Report
  • SamGarner
    ·2023-05-24

    [Smile] 

    Reply
    Report
  • FK1234
    ·2023-05-24
    💪
    Reply
    Report
  • Newnew
    ·2023-05-24
    B
    Reply
    Report