NVDA - At 1000$ mark before end of the week ?

20 Mar

NVIDIA's chart is getting interesting. There's a chance we might see a breakout towards $1000, and here's why:

Elliott Wave Triangle in Play?

Sharp traders might have noticed a possible Elliott Wave triangle forming. This pattern often appears before a significant price movement. Right now, it looks like wave E (the last one) is unfolding. If it breaks above the resistance line, things could get exciting!

Here's the breakdown:

Triangle Pattern: Notice how the price has been stuck in a tightening range? This suggests indecision, but it can also build up buying pressure for a potential breakout.
Wave E: If this is the final wave, a clean break above resistance could be the key to unlocking that $1000 target.
So, if the triangle plays out as expected, we could be in for a nice 15+% run. Just be sure to manage your risk carefully.

For experienced traders looking to maximize gains, strategically buying near the bottom of wave E could be an option. This minimizes risk by entering before a potential breakout, but remember, it requires active management and a good trading plan.