Elliott Forecast - NVDA Looking for Zigzag Correction

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Elliott Forecast

Daud Bhatti

NVDA Looking for Zigzag Correction

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 . 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.

07/10/2023 1 EN

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Elliott Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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Daud Bhatti

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NVDA Looking for Zigzag Correction

Elliott Wave Expects Silver (XAGUSD) Pullback to Find Support

Elliott Wave Analysis on SPX Looking to Extend Higher in Impulsive Structure

Ethereum (ETHUSD) : Incomplete Sequences Calling the Decline

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