Four Stock Elliott wave Focus Update — $NVDA $SMCI $AVGO $AMD — Where to buy on big W4 corrections
Note: This is an AI Generated article with Chat GPT
### Four Stock Elliott Wave Focus Update: $NVDA, $SMCI, $AVGO, $AMD — Where to Buy on Big Wave 4 Corrections
As we navigate through the current market volatility, four stocks — NVIDIA ($NVDA), Super Micro Computer ($SMCI), Broadcom ($AVGO), and Advanced Micro Devices ($AMD) — present interesting opportunities based on their respective Elliott Wave patterns. Each stock is in the midst of significant Wave 4 corrections, and understanding the technical targets can help investors identify optimal entry points.
#### NVIDIA ($NVDA)
NVIDIA has been experiencing a Wave 4 correction following a strong Wave 3 rally. The Wave 3 move took NVDA from a post-split level of approximately 39 to a peak around 141. A typical .382 Fibonacci retracement of this move would target a range of 90–95.
- **Recent Action**: Today, NVDA hit an intraday low of 91, aligning closely with the .382 retracement target.
- **Buying Opportunity**: Given this alignment, the current levels around 90–95 present a potentially strong buying opportunity. This zone is historically significant as it represents a common retracement level for Wave 4 corrections, suggesting that NVDA might find strong support here before embarking on a potential Wave 5 rally.
#### Super Micro Computer ($SMCI)
SMCI has been undergoing a more prolonged correction, characterized by an ABC zigzag pattern. The peak at 1229 marked the end of its Wave 1, and it has since been in a Wave 2 correction.
- **Recent Action**: The A wave took SMCI from 1229 to 690, followed by a B wave rally to 1020. The C wave is currently in progress, with a downside target of 480–500.
- **Buying Opportunity**: Today, SMCI hit a low of 525, suggesting there may still be some downside left to the 480–500 range. Investors should consider waiting for this target to be hit before buying, as it represents a typical end to the C wave in a zigzag pattern.
#### Broadcom ($AVGO)
Broadcom is also in a Wave 4 correction after a significant Wave 3 rally from 80 to 185 post-split. The .382 Fibonacci retracement for AVGO would target the 135–140 range.
- **Recent Action**: AVGO reached a low of 130 before reversing around 140 at 10:50AM ET, closely matching the .382 retracement target.
- **Buying Opportunity**: The current levels around 135–140 offer a compelling entry point. The bounce from 130 to 140 suggests that buyers are stepping in, potentially marking the end of the Wave 4 correction and paving the way for a Wave 5 advance.
#### Advanced Micro Devices ($AMD)
AMD is in a Wave 2 correction after a strong Wave 1 rally from 140 to 270. The typical downside target for a Wave 2 correction, particularly in an ABC pattern, is where A equals C, around 110.
- **Recent Action**: Today, AMD hit a low of 121, but it has not yet reached the 110 target.
- **Buying Opportunity**: Investors should exercise patience and wait for AMD to dip below 110 before considering a buy. The 110 level represents a stronger support and is likely to provide a more secure entry point for long-term gains.
### Conclusion
The recent market activity has brought these four stocks — $NVDA, $SMCI, $AVGO, and $AMD — close to significant Fibonacci retracement levels and Elliott Wave targets. For $NVDA and $AVGO, current levels are aligning with key support zones, suggesting potential buying opportunities. However, $SMCI and $AMD might still have some downside left, so waiting for further corrections to hit their targets could provide more advantageous entry points. As always, investors should combine technical analysis with their own research and risk management strategies to make informed decisions.
