Nvidia has recently faced notable downward pressure, but so far has managed to hold above the support level at $176.21. As a result, we continue to anticipate an imminent rally as part of the beige wave V, which should lift the stock into the now-red Target Zone between $227.38 and $260.60. However, if the stock immediately drops below the $176.21 mark, we would expect a new low for the beige wave alt.IV, with the lower $145.50 level still likely to hold.
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