NVIDIA Corp ( $NVDA) Reacted From the Blue Box Area as Expected.

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NVIDIA Corp ( $NVDA) Reacted From the Blue Box Area as Expected.

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Hello everyone. In today’s article, we will look at the past performance of the 1H Hour Elliott Wave chart of NVIDIA Corp ($NVDA) . The rally from 5.02.2024 low at $812.70 unfolded as 5 waves impulse. So, we expected the pullback to unfold in 7 swings and find buyers again. We will explain the structure & forecast below:

7 Swings WXY correction

$BAC

$NVDA 1H Elliott Wave Chart 5.9.2024:

$NVDAHere is the 1H Elliott Wave count from 5.09.2024. We expected the pullback to find buyers at the blue box area at 885.16 – 865.25 in 7 swings.

$NVDA 1H Elliott Wave Chart 5.12.2024:

$NVDAHere is the latest 1H update from 5.12.2024 showing the bounce taking place as expected. The stock has reacted higher from the blue box area allowing longs to get risk free. The stock is expected to either trade lower in a bigger double correction or remain supported with a target area towards $932 – 947 before another pullback can happen.

 

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