Automatic wave scan: as of 5 Nov 2026, the automatic daily count for Nvidia is Wave 1 down with a bearish bias. The count stays valid while price holds 243.37.
Current Nvidia wave count
Automatic wave scan Updated daily from the latest daily close (4 Nov 2026). Computer generated from swing highs and lows, not reviewed by an analyst.
Automatic scan: price is in wave 1, the first leg of a five wave decline that began at 243.37 on 6 Oct 2026. Next levels to watch are 187.80 and 172.68. The count fails on a daily close above 243.37.
Key levels
| Type | Levels |
|---|---|
| Resistance | 243.37 · 208.93 |
| Support | 190.01 · 197.97 |
| Invalidation | 243.37 |
What is Nvidia?
Nvidia was founded in 1993 by Jensen Huang, Chris Malachowsky and Curtis Priem and is based in Santa Clara, California. It began with graphics chips for gaming and now earns most of its revenue from data center chips used to train and run AI models.
In 2024 Nvidia became one of the most valuable companies in the world. It joined the Dow Jones Industrial Average in November 2024.
What moves the Nvidia price?
- AI data center demand: Orders from cloud companies drive revenue.
- Supply: Chip production capacity at partners such as TSMC limits output.
- Export rules: US limits on chip sales to China affect sales.
- Competition: Rival chips from AMD and in-house designs at big tech firms are a risk.
- Product cycles: New chip generations can lift demand.
How Nvidia moves in Elliott Wave terms
Nvidia's rally from late 2022 was a powerful extended impulse, with wave 3 far beyond the 2.618 extension of wave 1. Corrections of 20 to 30 percent have happened even inside this uptrend.
Because NVDA moves so much, use percentage based stops and expect deep wave 2 and wave 4 pullbacks.
Tips for counting Nvidia waves
Use smaller position sizes than for other mega caps. Quarterly earnings reports often start or end a wave. Price gaps after results can skip over levels, so place stops with gaps in mind.
Nvidia key facts
Nvidia Elliott Wave FAQ
Why is Nvidia important for AI?
Its graphics processors and software are the most widely used tools for training and running large AI models.
Is Nvidia in the Dow Jones?
Yes. Nvidia joined the Dow Jones Industrial Average in November 2024.
Why is Nvidia stock so volatile?
Expectations for AI demand are high, so any change in outlook can move the price sharply.
Sources and further reading
- NVIDIA filings (10-K and 10-Q) (U.S. Securities and Exchange Commission)
- NVIDIA Investor Relations (NVIDIA)
- Nvidia (Wikipedia)
Educational content only. Nothing on this page is financial advice or a recommendation to buy or sell. Trading involves risk and you can lose money. Elliott Wave counts are probabilities, not certainties. Read our full disclaimer and affiliate disclosure.
