NVDA: Corrective Structure Toward 207 GapFrom an Elliott Wave perspective, NVDA appears to be developing a corrective sequence.
The decline from the recent all-time high to the 169.50 area unfolded as a three-wave ABC correction. Notably, this move lacked impulsive characteristics, as neither wave A nor wave C subdivided into a five-wave structure. This strongly supports the interpretation of the decline as corrective rather than impulsive.
Based on this structure, price may now form another corrective three-wave move to the upside. This potential advance is highlighted on the chart with a purple arrow, projecting toward the 207 area, where a previously unfilled gap remains. The gap is considered additional confluence, not the primary driver of the setup.
Once this corrective move completes, I will be watching for renewed downside development. From that point, two alternative scenarios are possible, both outlined on the chart using the green and orange arrows.
This analysis is focused on wave structure and corrective sequencing, rather than trend continuation or directional bias.
