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Technical Analysis
Elliott Wave Analysis by EWF
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[QUOTE="Elliottwave-Forecast, post: 201484, member: 40858"] In this technical blog, we will look at the past performance of 4 hour Elliott Wave Charts of Nvidia stock ticker symbol: NVDA. In which, the rally from 08 March 2021 low ended wave (III) in an impulse structure & made a pullback in wave (IV). Therefore, we knew that the structure is incomplete to the upside. And another push higher minimum should happen to complete the 5 wave advance. So, we advised members not to sell the stock & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below: [HEADING=3]NVDA 4 Hour Elliott Wave Chart[/HEADING] [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/11/NVDA-4H20211003073900.jpg'][IMG alt="NVDA Made New All-Time Highs From Blue Box Area"]https://elliottwave-forecast.com/wp-content/uploads/2021/11/NVDA-4H20211003073900-1024x512.jpg[/IMG][/URL] Here’s 4hr Elliott Wave Chart of NVDA from the 10/03/2021 Weekend update. In which, the rally to $230.57 high ended wave (III) & made a pullback in wave (IV). The internals of that pullback unfolded as Elliott wave double three structure where wave w ended at $206.62 low. Wave x bounce ended at $225.35 high and wave y was expected to reach $201.50- $186.77 blue box area. From their buyers were expected to appear looking for new highs ideally or for a 3 wave bounce minimum. [HEADING=3]NVDA Latest 4hr Elliott Wave Chart[/HEADING] [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/11/NVDA-4H.png'][IMG alt="NVDA Made New All-Time Highs From Blue Box Area"]https://elliottwave-forecast.com/wp-content/uploads/2021/11/NVDA-4H-1024x525.png[/IMG][/URL] This is the latest 4hr Elliott wave Chart of NVDA from the 11/11/2021 update. In which the ETF is showing a strong reaction higher taking place from the blue box area at $201.50- $186.77. Right after ending the double three correction within the blue box area. Allowed members to create a risk-free position shortly after taking the long positions at the blue box area. However, it's important to note that with further data, we were able to adjust the degree of the structure as a nest in wave (III). Source: [URL]https://elliottwave-forecast.com/stock-market/nvda-made-new-time-highs-blue-box-area/[/URL] [automerge]1636732817[/automerge] The last time I charted this name was back in the summer of 2021 (article can be viewed here). At the time, the price of the stock was 646.00. I was looking for some continuation higher against the low set in May 2021. Firstly, in short summary, MSTR is a large holder of bitcoin, essentially making it a crypto currency company. Now that the company overview is out of the way, lets take a look at what I had charted out previous in July 2021: [HEADING=2][B]Microstrategy Elliottwave View July 2021:[/B][/HEADING] [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/11/MSTR-July-2021.png'][IMG alt="MicroStrategy"]https://elliottwave-forecast.com/wp-content/uploads/2021/11/MSTR-July-2021-1024x525.png[/IMG][/URL] At the time, I was looking for another nest in Red 1 and 2 to take place. Now lets take a look at the current chart: [HEADING=2][B]MicroStrategy Ellottwave View November 2021:[/B][/HEADING] [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/11/MSTR-Blog-Daily-Nov-11-2021.png'][IMG]https://elliottwave-forecast.com/wp-content/uploads/2021/11/MSTR-Blog-Daily-Nov-11-2021-1024x525.png[/IMG][/URL] As expected, the Red 2 correction did take place and prices have now surpassed Red 1 peak. RSI momentum has also confirmed that there is a wave 3 of 3 underway in the shorter cycles. Further continuation is favoured to take place at this time. With all this said, there is also another view which should be considered. It is the fact that perhaps ((1)) and ((2)) are set where (1) and (2) are currently placed on the chart. If this is the case, then a bigger breakout is possible. At this time, new all time highs are favoured to take place as long as the Red IV lows remain intact. The bulls remain in control and the trend is higher in shorter cycles. Source: [URL]https://elliottwave-forecast.com/stock-market/microstrategy-mstr-continues-move-higher/[/URL] [HEADING=3] [/HEADING] [/QUOTE]
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