Since the end of last week, Nvidia has been facing increasing downward pressure. Our primary scenario, however, calls for a recovery and suggests that the stock should complete the green wave [X] closer to but still below the resistance at $212.16. The subsequent wave [Y] should then finalize the larger correction of the beige wave IV above the support at $145.50. Afterward, we expect robust gains into our red Target Zone between $227.38 and $260.60, where the major uptrend of the lime-green wave [1] is likely to conclude. Nonetheless, there's a 33% chance that NVDA already completed wave alt.[1] at $212.16. In this case, the next move would dip below the $145.50 support.
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