Jump to content

NVIDIA Corp.(NVDA) Stocks Elliott Wave Technical Analysis

Recommended Posts

NVDA Elliott Wave Analysis Trading Lounge Daily Chart,
NVIDIA Corp., (NVDA) Daily Chart
NVDA Elliott Wave Technical Analysis
MODE: Impulsive
POSITION: Minute {v}.
DIRECTION: Upside in {v} of 1.  
DETAILS: Equality of {v} vs. {i} stands at 972$, looking for resistance on top of TL1 at 1000$.
NVDA Elliott Wave Analysis Trading Lounge 4Hr Chart,
NVIDIA Corp., (NVDA) 4Hr Chart
NVDA Elliott Wave Technical Analysis
MODE: Impulsive
POSITION: Wave (v) of {v}.
DIRECTION: Upside in (v)  
DETAILS: We seem to be bullish corrective, meaning we should expect further upside. I would start expecting some resistance on the next move up in potential wave (v).
Welcome to our latest Elliott Wave analysis for NVIDIA Corp. (NVDA). This analysis provides a comprehensive look at NVDA's price movements using the Elliott Wave Theory, highlighting potential trading opportunities based on current trends and market structure. We will cover insights from both the daily and 4-hour charts to offer a well-rounded perspective on NVDA's market behavior.
* NVDA Elliott Wave Technical Analysis – Daily Chart*
In our Elliott Wave analysis of NVIDIA Corp. (NVDA), we observe a strong upward trend characterized by an impulsive structure. NVDA is currently positioned in Minute wave {v} of 1, indicating a continued bullish movement. We are targeting an upside move where the equality of {v} vs. {i} stands at $972, with resistance anticipated at Trading Level 1 (TL1) around $1000. Traders should be mindful of potential resistance at this level, which could signal a temporary pause or correction.
* NVDA Elliott Wave Technical Analysis – 4Hr Chart*
On the 4-hour chart, NVDA is also following an impulsive mode within a motive structure, specifically in wave (v) of {v}. The current analysis suggests a bullish corrective move, implying further upside potential. As NVDA progresses, we anticipate some resistance on the next upward move in wave (v). This resistance could offer strategic entry points for long positions or opportunities to manage existing trades effectively.
Technical Analyst Alessio Barretta
Source : Tradinglounge.com get trial here!
Link to comment
2 hours ago, tradinglounge said:


AI chipmaker NVIDIA climbs to another record on earnings

Shares rose 5.5% in extended trading hitting yet another record, after posting better than expected results and forecasts.



Written by: Jeremy Naylor | Analyst, London
Publication date: 

Excluding items, the company earned $6.12 per share in the first quarter, beating estimates of $5.58 while revenue rose 262% year-over-year to $26bln, beating estimates of $24.6bln. Sales at the data centre segment, its largest by revenue, grew 427% to $22.6bln. Nvidia now sees Q2 revenue of $28Bln, plus or minus 2%, above analysts' expectations of $26.66Bln, according to LSEG data.

(Video Transcription)

NVIDIA share price

Video shares rose more than 5% as of extended trade late last night after the company produced a wonderful set of first quarter earnings. Better than expected results and also forecasts as well. Excluding items, the company earning $6.12 per share in the first quarter, beating estimates of 5.58 revenue up a whopping 262% year over year to 26 billion. Beating estimates of 24.6 billion on the figures that were expected for this quarter.


Sales at the data center segment, its largest by revenue growing 127% year over year to 22.6 billion. Margins were metric investors were particularly attentive to. NVIDIA reporting first quarter adjusted gross margins of 78.9 beating estimates of 77%. To compare this competitor, AMD had recorded an adjusted margin of 52% in its fiscal first quarter. NVIDIA expects second quarter adjusted gross margins to be 75.5% plus or -50 basis points.


And the company says it will split its stock ten for one effective on the 7th of June. It's also raising its quarterly dividend by 150% to $0.01 per share the post-split basis. Take a look at the share price chart up at a record high of 106% so far this year at over 106.87. And that 10.1 stock split will make the stock far more appealing to the smaller investors in video shares up 5.9% in extended trade and following these results, we did see AMD at a bit of weight as well.

This is one of the companies that's really snapping at the heels of NVIDIA, that stock was up 2.4% in extended trading late last night on the energy platform.



This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Create New...