Nvidia shares have continued to gain, recently climbing above $212.16. However, after this initial attempt to break through that level, the stock saw a pullback. Overall, we expect further upside, though in our alternative scenario, we’d view the recent high as part of a smaller corrective (and overshooting) upward move. Primarily, we see NVDA in the final upward phase of a larger bullish cycle and anticipate further gains into our red Target Zone ($227.38–$260.60). The cycle top is likely to form within this range. In our alternative scenario, NVDA may have already completed its upward cycle with the peak at $212.16. If so, the stock would now be entering a larger correction, with a move below support at $145.50 likely (probability: 33%).
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📊 Daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.