Overview: in my previous update of NVDA published on May 27th, I had wave 4 of (C) of 3 of c of (III) of a of 5 under development. I had 420 for wave 3 (light green) peak, and 360 for wave 4 (light green) bottom.
Update: NVDA followed the proposed path perfectly, wave 3 peaked at 419.38 and so far, wave 4 bottom is 373.56. Wave 4 has developed 2 zigzags so far (yellow wave (W) and wave (Y)) and it is possible that we are already in wave 5 (light green) or develop a third zigzag (Z) in wave 4, then start wave 5.
If wave 4 is not finished, I have 353.98 as my target for wave 4 bottom.
If we break out of the descending red channel, we know that wave 5 is under development and my target for wave 5 peak (=dark green (III)) based on fibonacci retracements is ~477-481!
Update: NVDA followed the proposed path perfectly, wave 3 peaked at 419.38 and so far, wave 4 bottom is 373.56. Wave 4 has developed 2 zigzags so far (yellow wave (W) and wave (Y)) and it is possible that we are already in wave 5 (light green) or develop a third zigzag (Z) in wave 4, then start wave 5.
If wave 4 is not finished, I have 353.98 as my target for wave 4 bottom.
If we break out of the descending red channel, we know that wave 5 is under development and my target for wave 5 peak (=dark green (III)) based on fibonacci retracements is ~477-481!
- 477.05: red wave c = 2.965*red wave a
- 480.53: dark green wave (III) = 4.236*wave (I)
- 481.15: light green 5 = 0.5*light green 1-3
