NVDA BEARISH WOLFE WAVE DAILY

There is a bearish wolfe wave setup on the daily time frame that triggered last week Dec 3, 2021. The projected target is calculated by extending a linear line between pivot 1 and 4 and projecting the line. This is represented as the red perforated line, as shown in the chart. The projected target is approx 180 which is represents a 5 standard deviation move. We do not believe NVDA will reach this level in the short term; however, it is probable that NVDA can take out some gaps that have been left open post run-up. Closest gap target is 267. If this tgt were to be achieved, I would expect it to sell off to 267 and lower Dec 14.