Nvidia Corp. (NVDA): Ending Diagonal
SUMMARY
Nvidia (NVDA) had been uptrending and continues to do so. However, any top is always a process and never an event. This is very important to understand. The below chart shows the impulse sequence and wave 5 is likely to be the current action.
The reason why wave 5 is likely the current action is that the pattern could translate it into an ending diagonal sequence. The subwaves of white 5 are also labeld as 1,2,3,4,5 (purple); however, their overlaps are allowed in this case. IF price well exceeds $281; then the ED would become invalidated.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
--
A 5th wave diagonal is a bearish elliott wave pattern that forms when the bulls are getting tired. This should be good for a short soon.
Purely based on TA I have not analyzed the fundamentals at all.
The fundamentals are strong. Their last earnings they blew past estimates by something like 60%. What will it take for NVDA to loose their outperformance and correct could perhaps be an economic recession.
I expect the next recession to start in Q4 2019 or Q1 of 2020.
can any buddy upvote me ? :D
Very good post . I really like your post . I think you are great unique writter.
Thank you.
Read my profile if want me to resteem your post to over 72,500 followers. @a-a-a
there is no doubt & i have a question please reply back if you have a time for me.
Thanks
A 5th wave diagonal is a bearish elliott wave pattern that forms when the bulls are getting tired. This should be good for a short soon.
Purely based on TA I have not analyzed the fundamentals at all
Thank you Haejin for your update! I will wait and hope price won't exceed well $281 so it can begin a correction... I really appreciate your update! Upvoted!