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Elliott Forecast

Daud Bhatti

Nvidia (NVDA) Breaks to New All-time High, What’s Next?

January 11, 2024 By

Nvidia (NVDA) broke to new all-time high as we start 2024. The stock shows incomplete impulsive structure from the last significant low on October 31, 2023 low. The rally from October 31 is unfolding as a . Up from October 31, wave ((1)) ended at 505.48 and dips in wave ((2)) ended at 450.10. The stock then resumes higher in wave ((3)) with internal subdivision as 5 waves. Up from wave ((2)), wave (1) ended at 504.33 and pullback in wave (2) ended at 473.20. Internal subdivision of wave (2) unfolded as a flat structure. Down from wave (1), wave A ended at 480.8 and wave B ended at 499.97. Wave C lower ended at 472.6 which completed wave (2).

Up from wave (2), wave 1 ended at 481.8, and pullback in wave 2 ended at 473.20. Stock resumes higher in a nest. Up from wave 2, wave ((i)) ended at 485 and dips in wave ((ii)) ended at 477.30. Stock resumed higher in wave ((iii)) towards 543.25 and pullback in wave ((iv)) ended at 530.18. Expect the stock to extend higher to end wave ((v)) of 3. Afterwards, it should pullback in wave 4 to correct cycle from 1.3.2024 low before it resumes higher. Near term, as far as pivot at 472.6 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.

Nvidia 60 Minutes Elliott Wave Chart

NVDA Elliott Wave Video

Source:-forecast.com/news/nvidia-nvda-breaks-new-time-high-whats-next/

11/01/2024 1 EN

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Elliott Forecast

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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