$AVGO $NVDA $SMCI $AMD Aug 12 Elliott Wave Updates — 1–2–3 patterns forming!

### Four Stock Elliott Wave Focus Update: NVDA, SMCI, AVGO, AMD — 1–2–3 Pattern to the Upside Setting Up

In the world of technical analysis, the Elliott Wave Theory is a powerful tool for predicting market trends. Four prominent stocks — NVIDIA (NVDA), Super Micro Computer (SMCI), Broadcom (AVGO), and Advanced Micro Devices (AMD) — are currently showing potential setups for significant upward moves based on the 1–2–3 pattern, a classic Elliott Wave formation. This article explores the current technical outlook for these stocks and what investors should watch for in the coming days.

#### NVIDIA (NVDA)

NVIDIA has been on a volatile ride, with a recent retracement that brought the stock down to a key Fibonacci level. The downside target for this correction was in the 90–95 range, with NVDA ultimately finding support at 91. This level coincides with a .382 Fibonacci retracement, a common area where corrections find a bottom in strong uptrends.

- **1–2–3 Pattern Setup**: NVDA has since begun to recover, forming what could be the start of a 1–2–3 Elliott Wave pattern. In this scenario, Wave 1 represents the initial bounce off the 91 low, Wave 2 is the subsequent pullback, and Wave 3 is the anticipated strong move higher. The key level to watch is 108 — if NVDA can break above this level, it would confirm the start of Wave 3. The target for this move could be as high as 122–125, based on the 1.618 Fibonacci extension of Wave 1.

#### Super Micro Computer (SMCI)

Super Micro Computer has also undergone a significant correction, hitting a long-term downside ABC target of 480–500. The stock dipped to as low as 478, suggesting that it might have reached or is near the bottom of this corrective phase. However, for a bullish reversal to be confirmed, SMCI needs to establish a clear 1–2–3 pattern off these lows.

- **1–2–3 Pattern Setup**: The critical level for SMCI is 542. If the stock can form a 1–2–3 pattern and break above this level, it would signal the start of a larger Fibonacci retracement and potentially a more extended bullish phase. Investors should monitor the price action closely to see if SMCI can build momentum and confirm this pattern.

#### Broadcom (AVGO)

Broadcom has been in a corrective phase as well, with a downside target set by the .382 Fibonacci ABC retracement in the 135–140 range. The stock actually dipped to 130 before reversing sharply to 140, suggesting that the correction may be over and a new upward move is beginning.

- **Wave 3 Setup**: The current price action in AVGO hints at a possible Wave 3 setup. If the stock can break above recent highs and sustain a move past 145, it could trigger a powerful Wave 3 advance. The target for this move is in the 160–165 range, assuming a 1.618 Fibonacci extension of the initial Wave 1.

#### Advanced Micro Devices (AMD)

AMD has experienced a less severe correction compared to the other stocks, with a downside ABC target of 110. However, the stock found support at 121, which is above the target, indicating relative strength.

- **1–2–3 Pattern Setup**: For AMD, the key level to watch is 148. If the stock can form a 1–2–3 pattern and break above this level, it would confirm the start of Wave 3. A successful breakout could propel AMD higher, potentially signaling that a bottom is in place and a new uptrend is underway.

### Conclusion

These four stocks — NVDA, SMCI, AVGO, and AMD — are all showing potential setups for significant upward moves based on the Elliott Wave 1–2–3 pattern. Key levels to watch include 108 for NVDA, 542 for SMCI, 145 for AVGO, and 148 for AMD. If these levels are breached, it could confirm the start of Wave 3 in each stock, leading to substantial gains in the coming weeks. Investors should monitor these stocks closely, as a successful breakout could signal the beginning of a new bullish phase.