Retesting the 50 Day MA and the blue support line which was the previous ATH line before the run in late 2023.
Lets remember the big picture here:
above the 50 and 200 Day MA
lagging $NVDA
Wave 4 stayed validated by not infringing with Wave 1
Testing previous resistance levels to confirm a conversion to support.
We believe this is in Wave 5.
Wave 3 rejected at the expected 1.618 Fib level, which is standard for Wave 3.
I continue to like the set up here.
G
2024-05-29 15:34:47 +0000 UTC