From its all‑time high on October 29, 2025 at $212.19, Nvidia (NVDA) began a pullback to correct the cycle that started from the April 2025 low. The decline reached $164.27, where the stock completed the correction and turned higher with improving momentum. The advance from the March 30, 2026 low is developing as a five‑wave impulsive structure, and this supports the view that NVDA is preparing for a new record high. Wave 1 ended at $177.37. Wave 2 then pulled back and finished at $170.23, as shown on the 30‑minute chart.
The stock has since progressed into wave 3, which subdivides into another five‑wave sequence in a lower degree. From the wave 2 low, wave ((i)) ended at $190. The pullback in wave ((ii)) concluded at $185.14. Wave ((iii)) extended higher and reached $200.4, confirming the strength of the current cycle. NVDA is expected to produce additional legs higher to complete the full five‑wave advance from the March 30, 2026 low. Once that structure finishes, the stock should enter a corrective phase to consolidate the move before the broader trend resumes.
In the near term, the bullish outlook remains valid as long as the pivot at $170.23 stays intact. Dips should continue to attract buyers in either a three‑swing or seven‑swing corrective pattern. This supports the case for further upside as the larger impulsive sequence continues to unfold.
Nvidia 30-minute Elliott Wave chart
Nvidia Elliott Wave [Video]
