From the all-time high of $212.19 on October 29, 2025, Nvidia (NVDA) began a pullback to correct a cycle that started from the low of April 2025. The decline reached $164.27, where the stock completed the correction and rose as momentum increased. The rally from the March 30, 2026 low is developing as a five-wave impulse structure, supporting the view that NVDA is gearing up for a modern record high. Wave 1 ended at $177.37. Wave 2 then retreated and ended at $170.23 as shown on the 30-minute chart.
The company’s stock has since moved into wave 3, which is less divided into another five-wave sequence. From the bottom of wave 2, wave ((i)) ended at $190. The pullback on wave ((ii)) ended at $185.14. Wave ((iii)) extended and reached USD 200.4, confirming the strength of the current cycle. NVDA is expected to generate additional levels higher to complete a full five-wave rally from the March 30, 2026 low. Once this structure is complete, the stock should enter a correction 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 remains unchanged. Declines should continue to attract buyers in the form of a correction with three or seven swings. This supports the case for further growth as the larger pulse sequence continues to unfold.
Nvidia 30-minute Elliott Wave chart
Nvidia Elliott wave [Video]
