Nvidia Wave Analysis – 22 July, 2020

• Nvidia reversed from support zone

• Likely to rise to 430.40

Nvidia recently reversed up from the support zone lying between the round support level 400.00, support trendline of the sharp daily up channel from March and the 50% Fibonacci retracement of the previous impulse wave (i).

The active impulse wave (iii) belongs to the longer-term impulse wave 5 of the sharp impulse sequence (C) from March.

Nvidia is likely to rise further toward the next resistance level 430.40 (top of the previous impulse wave (i)).