The Elliott Wave outlook for Nvidia (NVDA) indicates that the stock is undergoing a larger three‑swing correction from its all‑time high of $236.54, recorded on May 14, 2026. From that peak, wave (A) concluded at $189.8 as a five‑swing decline. A corrective rally in wave (B) followed, terminating at $234.78. The subsequent wave (C) is now unfolding lower and subdivides into a five‑wave impulsive structure, confirming that the correction remains active.
From the wave (B) high, wave ((i)) ended at $229.43, while wave ((ii)) retraced to $233.71. The decline continued with wave ((iii)) finishing at $217.2. A modest rally in wave ((iv)) reached $222. The final leg, wave ((v)), dropped to $208.93, completing wave 1 of a higher degree sequence. At present, wave 2 is advancing as a double three corrective pattern. From the wave 1 low, wave ((w)) rose to $216.76, followed by a pullback in wave ((x)) that ended at $212.5. This structure implies that the stock is likely to continue higher, aiming to complete a seven‑swing double three formation with a potential target zone between $220 and $225. As long as the pivot at $234.7 remains intact, rallies are expected to fail after completing the corrective sequence. This outlook favors further downside once the seven‑swing structure is complete.
