Saad Ullah
⬤ Nvidia's stock delivered exactly what technical analysts were watching for—a sharp bounce right from the Elliott Wave Blue Box area. This isn't just any support zone; it's a high-probability reaction area where pullbacks typically run out of steam. And that's precisely what happened here, with the stock respecting the setup and pushing higher while staying comfortably above the $164 invalidation level.
⬤ The correction played out textbook style. Price drifted lower into the Blue Box, momentum cooled off, and buyers showed up right on cue. The rebound wasn't hesitant either—it came with conviction, confirming that the structure remains intact. What makes this particularly interesting is that anyone who entered positions within that zone is now sitting in risk-free territory, a clear sign the trade is working as expected.
⬤ Right now, the chart is telling a straightforward story: don't fight it. The Elliott Wave count favors continuation over reversal, and selling at these levels doesn't align with what the structure is showing. As long as price holds above that key $164 pivot, the bullish case stays front and center.
⬤ This move matters beyond just Nvidia's chart. As one of the heaviest hitters in both semiconductors and tech broadly, when Nvidia holds key support and pushes higher, it tends to set the tone for growth stocks across the board. The fact that it's respecting well-defined technical zones during consolidation suggests underlying strength—and that could ripple through the market if momentum keeps building from here.
Saad Ullah
