Nvidia (NVDA) aims to advance in wave (5), targeting $189 or higher. The rally to $185.22 completed wave (3). A pullback in wave (4) formed a zigzag Elliott Wave pattern. From wave (3), wave A dropped to $170.89. Wave B peaked at $184.48, and wave C fell to $168.01, showing an impulsive structure on the 30-minute chart below.
The stock has since turned upward. It must break above $185.22, the wave (3) high, to confirm no double correction. The rally from wave (4) unfolds as a five-wave impulse, supporting a bullish bias. From the wave (4) low, wave ((i)) reached $173.53. Wave ((ii)) dipped to $171.11. The stock then climbed in wave ((iii)) to $181.91. A brief wave ((iv)) pullback ended at $178.35. Nvidia nears completion of wave ((v)), finalizing wave 1 in a higher degree.
A wave 2 pullback should follow, correcting the cycle from the August 22 low. The stock will likely resume its climb afterward. As long as the $168.01 pivot holds, pullbacks should attract buyers in a 3, 7, or 11 swing, paving the way for further upside. This setup keeps Nvidia’s bullish momentum intact, provided the key support level remains unbroken.
Nvidia (NVDA) – 30 Minute Elliott Wave Technical Chart:
