NU Holdings Outlook
NU price has left the high volatility range and dropped by over 11% today.
The chart suggests that the first Elliott Wave A-B-C correction structure might be near completion with this five-wave downward move. Prices are reaching quite attractive levels again, prompting me to consider re-establishing a position, as the first clear correction pattern appears to be finishied soon.
There's a possibility that the entire correction could be complete. However, my main scenario anticipates that the chart will develop into a more complex correction pattern over the next few months, not finishing with this simple A-B-C structure.
There's still a chance that if the correction lasts longer, these prices could represent the lowest we'll see.
My primary target remains the 50% Fibonacci level at $9.25.
The chart suggests that the first Elliott Wave A-B-C correction structure might be near completion with this five-wave downward move. Prices are reaching quite attractive levels again, prompting me to consider re-establishing a position, as the first clear correction pattern appears to be finishied soon.
There's a possibility that the entire correction could be complete. However, my main scenario anticipates that the chart will develop into a more complex correction pattern over the next few months, not finishing with this simple A-B-C structure.
There's still a chance that if the correction lasts longer, these prices could represent the lowest we'll see.
My primary target remains the 50% Fibonacci level at $9.25.
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