Nvidia Corp.: wave analysis
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 127.77 |
| Take Profit | 150.00, 170.00 |
| Stop Loss | 114.65 |
| Key Levels | 77.95, 94.90, 114.65, 150.00, 170.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 114.60 |
| Take Profit | 94.90, 77.95 |
| Stop Loss | 121.15 |
| Key Levels | 77.95, 94.90, 114.65, 150.00, 170.00 |
Growth is possible.
On the daily chart, the third wave of the higher level (3) develops, within which the third wave of the lower level 3 of (3) formed. Now, a correction has formed as the fourth wave 4 of (3), and the fifth wave 5 of (3) is forming, within which the wave i of 5 has ended, a correction has formed as the wave ii of 5, and the wave iii of 5 is developing. If the assumption is correct, the asset will grow to the area of 150.00–170.00. In this scenario, critical stop loss level is 114.65.
Main scenario
Long positions will become relevant above the level of 114.65 with the targets at 150.00–170.00. Implementation period: 7 days and more.
Alternative scenario
A breakout and the consolidation of the price below the level of 114.65 will let the asset go down to the area of 94.90–77.95.
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