I'm not presently invested in nvidia, but present this as possible deep value entries.
Looking at elliot wave and fib levels, I would expect to see a 3-3-5 correction with a double top and bottom at either .618 $72 or .786 at $44.
After a bottom is found then expect a short accumulation period of 3 higher highs then a mark up in price.
I usually always leave out time a bias, but in this case with the upcoming fomc meeting in September, I could see this correction happening and finishing fast.
Obviously, if these deep value targets are met, I will realign my portfolio to heavy in nvidia.
Looking at elliot wave and fib levels, I would expect to see a 3-3-5 correction with a double top and bottom at either .618 $72 or .786 at $44.
After a bottom is found then expect a short accumulation period of 3 higher highs then a mark up in price.
I usually always leave out time a bias, but in this case with the upcoming fomc meeting in September, I could see this correction happening and finishing fast.
Obviously, if these deep value targets are met, I will realign my portfolio to heavy in nvidia.
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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.