NVDA: Correction Phase

Sep 5Hello everyone,😉

I’ve put a scenario for the stock 'NVDA' together, which is currently drawing attention.

This scenario is based on not only the "Elliott Wave Theory" but also various analytical tools, so please take it into high consideration.


✔️ Wave from $140.76 downward: "Extended Flat"

This is an 'Extended Flat' composed of a 3-3-5 structure. The final C wave was completed as an 'Extended fifth wave impulse.'

✔️ Wave from $90.69 upward: "Zigzag"

This is a 'Zigzag' with a 5-3-5 structure. The A wave and C wave have a 1.618 ratio, which adds a high level of credibility.

✔️ Conclusion: Projected Path

Based on the wave count so far, I’ve drawn the projected path. I anticipate the appearance of a downward impulse wave and used the downward parallel channel and Fibonacci levels to estimate the potential decline range.

• First support zone: $100.03
  
• Second support zone: $84.57 (very strong)
  

Good luck!

• This is not a buy or sell recommendation.
  
• It is a personal perspective and should be used for reference only.
  
• All decisions and responsibilities are yours.