NVDA Weekly Update

Overview: let's review the key points of the previous update:

• As expected, we had an abc sturcture developed from the low of Oct. 13th to test the descending channel , this can be either wave (I) or (wave x).
  
• Then, we had another abc structure completed down the high of Dec. 13th, which can be wave w of (II) or (wave 1 of (a) of z to new lows).
  
• Either scenario, we will have a corrective abc to the upside at this point, which is labeled wave x (red) on the chart and provides a good spot to enter bearish position on NVDA.
  
• On the hourly chart, we are inside wave A of x.
  

Update: another flat correction! not much to update, I think wave x is developing as a flat and we are inside its wave C. My target for wave x peak is 159.34-162.62!