$NVDA – Quick Update
As warned, NVDA hit the ideal $208 target today and bounced, just as we shared earlier on Discord. The super-pressing question now is whether this bounce is constructive, or whether investors should brace for more downside.
In today’s quick update, we take a closer look at Nvidia, the largest pillar of both the S&P 500 and Nasdaq, with a representation of roughly 9% in each index. We assess the latest technical developments, break down the critical signals, examine the evolving structure, and outline the most probable paths forward for one of the market’s most influential stocks.
Expanding Triangle
NVDA may have completed a sharp abc correction, with the internal structure consisting of a zigzag, triangle, and Ending Diagonal, all landing in the ideal target area where wave a equals wave c. The initial upward wave looks impulsive so far, which is encouraging.
If this hypothesis is confirmed and NVDA produces a sharp move higher over the next two sessions, it would indirectly confirm the Ending Diagonal and set the stock up for a potentially impressive June–July rally, possibly in the 13–20% range or even higher.
For now, the May close remains the key checkpoint before looking too far ahead. A preliminary road map is shown below.
