Current Elliott Wave Structure
Short term Elliott Wave suggests the all-time high in Nvidia (NVDA) at 152.89 ended wave ((1)). Dips in wave ((2)) unfolded as an expanded Flat.
Wave ((2)) Breakdown
Down from wave ((1)), wave (A) ended at 128.22 and wave (B) ended at 153.13. Down from there, wave 1 ended at 129.11 and wave 2 ended at 149.1. Wave 3 lower ended at 116.7 and wave 4 ended at 131.99. Wave 5 lower ended at 113 which completed wave (C) of ((2)) in higher degree. The 30 minutes chart below shows the pullback in wave ((2)).
Next Potential Moves
The stock has turned higher in wave ((3)), but it still needs to break above wave ((1)) peak at 152.89 to rule out any double correction. Up from wave ((2)), wave ((i)) ended at 119 and pullback in wave ((ii)) ended at 115.33.
Recent Price Action
The stock rallied higher in wave ((iii)) towards 130.37 and dips in wave ((iv)) ended at 125. Final leg wave ((v)) ended at 135 which completed wave 1.
Expected Correction
Wave 2 pullback is now in progress to correct cycle from 2.3.2025 low in 3, 7, or 11 swing before the next leg higher. Near term, as far as pivot at 113 low stays intact, expect pullback to find support in 3, 7, 11 swing for more upside.
