NVDA Archives - Page 2 of 3 - Elliott Wave Forecast

Can Micron (MU) Overcome the Market Hurdles for a Strong Rally?

March 15, 2025 By EWFLuis

The performance of Micron Technology Inc. (MU) stock has been a constant topic of interest in financial markets. Despite strong projections and a track record of innovation in the semiconductor industry, the ability of its stock to sustain a significant rally could be challenged by economic and sector-specific factors. In this article, we will explore the challenges and opportunities Micron faces on its path to sustainable recovery, as well as the potential impact of these dynamics on investors.

MU Weekly Chart October 2024

In the last weekly chart of October 2024, MU made a bearish impulse ending at $84.12 low, and we labeled this as wave ((A)) of II. Then, we were anticipating a corrective wave ((B)). Wave (A) ended at $106.75 high, and we identified the correction wave (B) as completed at $98.94 low. We stated that wave (C) had already started a new rally, and we expected it to reach the $130.03–$149.15 area to culminate wave ((B)) and turn lower into ((C)). This idea was valid as long as the market remained below $157.57 or above $48.43. If the market would break above wave I high, then wave II would have already ended.

MU Weekly Chart March 2025

MU shows potential to recover its stock price as technological advancements and a memory market rebound drive growth later in 2025. However, demand fluctuations, global economic pressures, or unexpected market shifts create uncertainty around this recovery. The outlook highlights growth opportunities, but investors must monitor market volatility, which could undermine the rally’s sustainability.

The price broke below wave ((A)) low, which suggests wave ((B)) may be completed instead of wave (A). However, the ranging movement more likely indicates wave ((B)) is forming an expanding flat correction. We labeled wave (B) at the 83.54 low, and wave (C) is now progressing as an impulse or an ending diagonal structure. The chart illustrates an upward impulse, targeting the 113.95–132.90 area for wave (C) and ((B)). Afterward, the market will likely react lower to continue wave ((C)) of II. While wave II may already be finished, we are conservatively labeling this rally as part of an expanding flat correction. If MU breaks above wave I high, it confirms wave II is complete. Conversely, if the market breaks below wave (B), wave ((B)) is complete, and wave ((C)) begins moving downward.

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Nvidia Stock (NVDA): Elliott Wave Irregular Flat Pattern Analysis

February 11, 2025 By EWF Vlada

In this technical article we’re going to take a look at the Elliott Wave charts charts of Nvidia Stock (NVDA) published in members area of the website. As our members know, we generally favor the long side in NVDA, due to impulsive bullish sequences. Recently, the stock has corrected the cycle from the August 90.68 low. We got a pull back which unfolded as an Irregular Flat pattern.

Before we take a look at the real market example of Expanded Flat, let’s explain the pattern in a few words.

Elliott Wave Expanded Flat: Key Concepts

Elliott Wave Flat is a 3 wave corrective pattern which could often be seen in the market nowadays. Inner subdivision is labeled as A,B,C , with inner 3,3,5 structure. Waves A and B have forms of corrective structures like zigzag, flat, double three or triple three. Third wave C is always 5 waves structure, either motive impulse or ending diagonal pattern. It’s important to notice that in Irregular Flat Pattern wave B completes above the starting point of wave A. Wave C ends bellow the ending point of wave A . Wave C of Flat completes usually between 1.00 to 1.236 Fibonacci extension of A related to B, but sometimes it could go up to 1.618 fibs ext.

At the graphic below, we can see 3 types of Elliott Wave Flat structures

Now, let’s take a look what Elliott Wave Flat Pattern looks like in the real market

NVDA 4H Elliott Wave Analysis (January 28, 2025)

Currently, NVDA is correcting the cycle from the 90.68 low. Elliott Wave analysis suggests that the pullback is unfolding as an Irregular Flat Pattern. When analyzing the lower time frames, we observe that the inner subdivisions of waves (A) and (B) in blue exhibit corrective sequences. Wave (B) has broken above the starting point of wave (A), while wave (C) has broken below the starting point of wave (B), which is characteristic of an Irregular Flat pattern.

At this stage, the (C) leg still requires another wave up to complete its structure as a 5-wave move. We recommend that our members avoid selling at this stage. The target for wave 5 in red would be the inverse 1.236 Fibonacci extension of wave 4.

You can learn more about Elliott Wave FLAT and other Patterns at our Free Elliott Wave Educational Web Page

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NVDA 4H Update (February 6, 2025)

Nvidia made another leg down in wave 5 of (C), completing the pullback. Now, the 113.09 low is the key pivot for the proposed view. As long as the price stays above that level, we can count the correction as completed in an Irregular Flat Pattern. Otherwise, a break below 113.09 would open the possibility for further downside extension

Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. For additional information on the best trading strategies for Bitcoin, visit our Live Trading Room and stay updated with the latest insights in our Chat Room.

You can find detailed information on trading setups in the membership area and in the Live Trading Room

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SMH Semiconductor ETF Rally Continuation Should Be Around the Corner

January 16, 2025 By EWFLuis

The VanEck Semiconductor ETF (SMH) is an exchange-traded fund that tracks a market-cap weighted index composed of 25 of the largest U.S.-listed semiconductor companies. The top holdings of SMH include companies like NVIDIA, Taiwan Semiconductor Manufacturing, Broadcom Inc., Texas Instruments, QUALCOMM, ASML Holding N.V., Applied Materials, Inc., Lam Research Corporation, Micron Technology, Inc., and Advanced Micro Devices, Inc.

SMH 4 Hour Chart September 11th

Last September 11th, we talked about SMH. After completing wave (III), we had a deep pullback as a zig zag correction. Down from wave (III), wave “a”ended at 226.50 low and bounced as wave “b” ended at 251.00 high. Last push lower completed wave “c” and a wave (IV) at 197.50 low. Then, SMH started the uptrend again and wave (V). It built an impulse structure ending at 253.32 high as wave I. Pullback as wave II ended at 213.57 low. From here, we were expecting to continue the rally in wave III of (V). Ideally, the market should break 284.26 high as target to end wave (V). In case, if this rally would not break above wave (III), the next target to keep an eye comes around 269.50 level.

SMH Daily Chart January 16th

Currently in the daily timeframe, the semiconductors ETF has moved sideways between 230 – 260 dollars. The market rally as expected from 222.20 as the last chart, but it has not been strong enough to break the peak and even worse to reach 269.50 level. Therefore, we adjusted the chart calling the wave I as a leading diagonal ending at 262.26 high. The ranging since October 2024 until today should be the wave II correction. We are calling a running flat correction for this purpose. For us, the wave III has started and wave ((1)) of III ended at 257.20 high and now it is trading in wave ((2)) pullback. As price action remains above 240.62 low, we are expecting for more upside to break 283.07 high.

Besides, as we are calling a running flat correctionas wave II, we cannot rule an expanded flat correction as wave II. That means, if market breaks 240.62 low, SMH should continue lower to 235.29 – 228.61 area to finish wave II before resuming the rally. Let’s see how the market treats us. Trade Smart!

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Elliott Wave View Expects NVDA (Nvidia)To Extend Higher

November 12, 2024 By EWFRaj

Short Term Elliott Wave View in NVDA (Nvidia) suggests further upside in daily bullish sequence. It is trading in bullish weekly sequence at all time high and expect continuation against August-2024 low. In 4-Hour, it placed (1) at $131.26 high and (2) correction at $100.95 low. Above there, it favors upside in (3) of impulse sequence. It placed 1 of (3) at $120.79 high, 2 at $112.78 low, 3 at $144.50 high and 4 at $132.11 low. Currently, it favors upside in 5 of (3) from 31-October low and expect one more push higher to finish it, while dips remain above $143.57 low.

Above $132.11 low, it placed ((i)) of 5 at $139.99 high, ((ii)) at $135.35 low, ((iii)) at $149.95 high and ((iv)) at 143.57 low as double correction. Within ((iv)), it placed (w) at $146.26 low, (x) at $148.85 high and (y) as ((iv)) ended at $143.57 low. Above ((iv)) low, it favors pullback in (ii), while placed (i) at $146.49 high and expect continuation in ((v)), which confirm above $149.95 high. It expects ((v)) to extend towards $151.47 – $153.90 area as minimum extension to finish (3) started from 6-September low. Alternatively, if it breaks below $143.57 low, it should extend ((iv)) before resuming higher in ((v)) to finish (3). Later, it should pullback in (4) in 3, 7 or 11 swings sequence and buyers expect to enter again from extreme areas to resume daily bullish sequence. Alternatively, if it extends higher and erase the momentum divergence, then it should turn out to be nest in (3) and see more upside.

NVDA 30 Minutes Elliott Wave Chart

NVDA Elliott Wave Video

SMH Semiconductor ETF Reacted from a Blue Box Breaking to New Highs

May 27, 2024 By EWFLuis

SMH 4 Hour Chart April 19th

In March 2024, the ETF made a peak at 239.14 high and we called as wave (III). Then, the market started a pullback and we called a double correction structure. Down from the peak, we can see 3 swings that ended wave w at 212.82 low. Another 3 swings bounced to finish wave x at 230.95 high. From here, we were looking for 3 swings more to the downside to reach 204.63 – 188.26 area. In the blue box, we were expecting that buyers appear to call wave y and wave (IV) ended and resume the rally in wave (V).

SMH 4 Hour Chart May 23th

After a month, We can see SMH reached the blue box ended wave (IV) at 198.41 low and rally as expected. The ETF is developing an impulse as wave I of (V) and we see the structure incomplete at the moment. The uptrend ended wave ((1)) of I at 219.62 high. Then we had a fast correction as wave ((2)) ending at 206.11 low. The market remained up with a strong momentum in wave ((3)). Wave (1) of ((3)) ended at 223.18 high. Wave (2) correction at 218.11 low. The rally continued ending wave (3) at 236.04 high and wave (4) pullback at 231.87 low.

After NVDA earnings results, SMH broke higher above wave (III) peak confirming more upside extension. Currently, wave (5) of ((3)) could be near to end. When we see a strong correction as wave ((2)), wave ((3)) should be ended and we would expect 3, 7 or 11 swings correction to complete wave ((4)) before resuming to the upside in wave ((5)) of 1. The strategy is looking for buying opportunities after wave ((4)) is completed to trade wave ((5)) higher.

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NVIDIA (NVDA) Buying The Dips After Elliott Wave Double Three Pattern

April 26, 2024 By EWF Vlada

Hello fellow traders. In this technical article we’re going to take a look at the Elliott Wave charts charts of NVIDIA (NVDA) Stock published in members area of the website. Our members are aware of the numerous positive trading setups we’ve had among Stocks and Indices recently. One of them is NVIDIA , which made a pullback, that unfolded as an Elliott Wave Double Three Pattern. It completed clear 7 swings from the peak on March 8th peak and concluded the correction right at the Equal Legs zone (Blue Box Area). In the following text, we’ll delve into the Elliott Wave pattern and trading setup.

Before we take a look at the real market example, let’s explain Elliott Wave Double Three pattern.

Elliott Wave Double Three Pattern

Double three is the common pattern in the market , also known as 7 swing structure. It’s a reliable pattern which is giving us good trading entries with clearly defined invalidation levels.
The picture below presents what Elliott Wave Double Three pattern looks like. It has (W),(X),(Y) labeling and 3,3,3 inner structure, which means all of these 3 legs are corrective sequences. Each (W) and (Y) are made of 3 swings , they’re having A,B,C structure in lower degree, or alternatively they can have W,X,Y labeling.

NVDA H4 weekend update 04.21.2024

NVDA is currently in a wave IV red correction, unfolding in a 7-swing pattern. We’ve labeled the pullback as ((W)))((X))((Y)) in black. The first leg, ((W)) in black, shows a clear 3-wave structure (A)(B)(C) in blue, followed by a 3-wave bounce in ((X)) black. We anticipate the pullback to form a Double Three pattern, projecting 3 waves in ((Y)) black. The price has hit the extreme zone, marked by the blue box, and we know the correction could end anytime. We expect the stock to rally toward new highs or bounce in 3 waves. When the price retraces to the 50% Fibonacci level against the ((X)) black connector, we’ll secure positions, set the stop loss at breakeven, and take partial profits.

Official trading strategy on How to trade 3, 7, or 11 swing and equal leg is explained in details in Educational Video, available for members viewing inside the membership area.

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NVDA H4 weekend update 04.25.2024

NVDA stock found buyers as expected and made a decent rally from the Blue Box. The bounce has already reached the 50% Fibonacci retracement level against the ((X)) black connector, confirming that the cycle from the peak is complete. Consequently, any long positions taken from the equal legs area are now risk-free, and we have already taken partial profits. We consider wave IV red completed at the 756.27 low.

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