Nvidia Corp. (NVDA): A Ten Year Correction?

SUMMARY

Excelon Corp. (EXC) has been correcting since 2008 and hasn't really recovered much at all! The chart below shows that the retracement was 0.78 Fibl level and the initial crash was horrific, to say the least. Do you see a certain trait that goes with such deep retracements?

Look how extended the white 5th wave was! This is why price has retraced towards the prior wave 2 zone (purple rectangle). The bounce also seems like a countertrend retracement and if any higher highs, it could be limited as shown by the white arrow. Still, the MACD could meander around within its own symmetrical triangle. There is a risk of a downside breakdown as shown by the next chart.

The blue upwards wedge could be bearish and actually be the red B wave of the ABC corrective sequence. IF this is the case, 0.88 Fib level could be a future stop. Would you be a buyer or a profit taker at this point?

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