🚨 Disclaimer: This analysis is for educational purposes only and should not be considered financial advice. Always do your own research before making trading or investment decisions.
Key Highlights:
Elliott Wave Structure: -The chart showcases a clear Elliott Wave progression, indicating a completed Cycle Wave III and the current progression into Cycle Wave IV correction. - Primary Wave (1)-(5) uptrend concluded the third cycle, followed by an expected a-b-c corrective pattern for Wave IV.
Current Price Action: - NVIDIA is currently trading around $134.29. - The chart suggests a potential downside correction as part of the ongoing Wave IV, which is typical after a strong Wave III rally.
Correction Levels:
Wave IV Target Zone: - Support around $120 - $100 is projected, aligning with key Fibonacci retracement levels and prior structural support. - Invalidation Level: Below $10.58 (unlikely scenario, but included for completeness).
Future Projections: - After the completion of Wave IV, a strong Wave V rally is expected, potentially pushing prices above $200. - Long-term Target: $230 - $240, depending on the strength of the next impulsive wave.
Investor Note: - A bold reminder is included: "I do not recommend selling long-term holdings." - This reflects the confidence in NVIDIA's long-term growth potential, especially given its leadership in AI, GPUs, and data center technology.
Action Plan:
Long-Term Investors: - Hold positions through the corrective phase, as the long-term trend remains bullish. - Use corrections as opportunities to accumulate more shares, particularly within the $120-$100 range.
Key Fundamental Catalysts to Watch: - AI Growth: Continued dominance in GPU markets for AI training and inference. - Data Center Revenue: Sustained growth in NVIDIA’s data center segment. - Product Innovation: Upcoming product launches and advancements in gaming and AI. - Macroeconomic Factors: Interest rates and tech sector valuations.
Final Thoughts: NVIDIA’s long-term growth trajectory remains robust, supported by strong fundamentals and market leadership in key growth areas like AI and data centers.
Short-term corrections are natural and offer opportunities for disciplined investors.
Patience is key—hold through the volatility to capture the potential of the next Wave V rally.
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