NVIDIA CORP.: WAVE ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendations | BUY |
| Point of entry | 124.30 |
| Take Profit | 160.00, 170.00 |
| Stop Loss | 102.85 |
| Key levels | 77.95, 90.24, 102.85, 160.00, 170.00 |
| Alternative scenario | |
|---|---|
| Recommendations | SELL STOP |
| Point of entry | 102.80 |
| Take Profit | 90.24, 77.95 |
| Stop Loss | 107.00 |
| Key levels | 77.95, 90.24, 102.85, 160.00, 170.00 |
The price is in correction, the possibility of growth remains.
On the daily chart, the downward correction has completed as the second wave of the senior level (2) and the ascending third wave (3) is forming. At the moment, the third wave of the junior level 3 of (3) has ended and a local correction is developing as the fourth wave 4 of (3). If the assumption is correct, then after the correction the asset price will increase to the area of 160.00–170.00. The critical stop loss level for this scenario is 102.85.
Main scenario
Long positions are relevant above the level of 102.85 with targets of 160.00–170.00. Implementation period: 7 days or more.
Alternative scenario
A breakout and price consolidation below the level of 102.85 will allow the trading instrument to continue its downward dynamics to the area of 90.24–77.95.
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