Short Term Elliott Wave in Nvidia (NVDA) suggests the stock ended wave IV correction at 407.24. The stock has turned higher in wave V with internal subdivision as a 5 waves impulse. Up from wave IV, wave 1 ended at 428.2 and pullback in wave 2 ended at 416.29. The stock extended higher in wave 3 towards 441.44 and pullback in wave 4 ended at 433.07. Final leg higher wave 5 ended at 451.75 which completed wave (1).
Pullback in wave (2) is now in progress to correct cycle from 9.22.2023 low in 3, 7, or 11 swing before the rally resumes. Internal subdivision of wave (2) is unfolding as a zigzag structure. Down from wave (1), wave ((i)) ended at 434.99 and wave ((ii)) ended at 451.30. Wave ((iii)) ended at 429.54, wave ((iv)) ended at 436.97 and wave ((v)) lower ended at 427.27. This completed wave A in higher degree. Expect wave B rally to end soon and the stock to turn lower in wave C before ending wave (2). As far as pivot at 407.24 low stays intact, expect pullback to find support in 3, 7, 11 swing for more upside.
