My 03/11/24 post illustrated NVDA may have bottomed out. Today NVDA rallied 7.16% which could be the start of a move to a significant peak.
NVDA could be completing an Elliott Impulse wave from its November 2008 bottom.
Within an Impulse wave there’s usually a Fibonacci relationship between the first and fifth waves.
Primary wave “1” had a growth rate of 229.1% divided by the Fibonacci ratio of .236 equal a growth rate of 970.1% added to the bottom of Primary wave “4” targets 1157.74 for the termination point of Primary wave “5”.
Broader topping zone is 1120 to 1200.
NVDA could be completing an Elliott Impulse wave from its November 2008 bottom.
Within an Impulse wave there’s usually a Fibonacci relationship between the first and fifth waves.
Primary wave “1” had a growth rate of 229.1% divided by the Fibonacci ratio of .236 equal a growth rate of 970.1% added to the bottom of Primary wave “4” targets 1157.74 for the termination point of Primary wave “5”.
Broader topping zone is 1120 to 1200.
