NU Holdings (NU) Favors Corrective Bounce Before Lower

NU Holdings Ltd., (NU) provides digital banking platform in Brazil, Mexico, Colombia, Germany, Argentina, United States & Uruguay. It offers spending solutions comprising credit & prepaid cards, mobile payment solutions & integrated mall that enables customers to purchase goods & services from various ecommerce retailers. It comes under Financial services sector & trades as “NU” ticker at NYSE.

As shown in the previous article, NU ended ((A)) as 5 swings lower at $10.18 low. Above there, it favors bounce in ((B)) in 3, 7 or 11 swings & expect to fail below $16.15 high to turn lower in ((C)) to finish II.

NU - Elliott Wave Latest Weekly View: 

It ended impulse sequence I at $16.15 high from June-2022 low. Within I sequence, it placed ((1)) at $5.88 high & ((2)) at $3.39 low as dip pullback. It ended ((3)) as extended sequence at $13.64 high in July-2024 & ((4)) as sharp pullback at $9.67 low as 0.382 Fibonacci retracement of ((3)). Finally, it ended ((5)) as diagonal sequence from August-2024 low at $16.15 high as I expected from last update.

NU - Elliott Wave View From 12.03.2024: 

Below $16.15 high, it ended ((A)) of II at $10.18 low. It ended (1) at $13.19 low, (2) at $14.51 high, (3) at $11.48 low, (4) at $12.38 high & (5) as ((A)) at $10.18 low. Currently, it favors bounce in (A) of ((B)) as overlapping structure & expect some upside before pullback starts in (B). The pullback in (B) should remain above $10.18 low to bounce in (C) to finish ((B)) towards equal leg area. ((B)) should unfold in 3, 7 or 11 swings before lower in ((C)) as 5 swings down to finish II. We can project the exact area for ((C)), once it finished ((B)) connector, where it will find next support in weekly.

Source: https://elliottwave-forecast.c...