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 is based in Brazil, comes under Financial services sector & trades as “NU” ticker at NYSE.
As shown in the previous article, NU favored bounce in ((B)), which ended at $14.08 high & resume downside in ((C)). Further weakness will confirm below $10.18 low to extend towards $8.10 or lower levels 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 weekly view from 1.20.2025
Below $16.15 high, it ended ((A)) of II at $10.18 low & ((B)) at $14.08 high on 2.03.2025. Currently, it favors downside in (1) of ((C)) & expect downside before bounce in (2). It needs to break below $10.18 low to confirm the ((C)) down. It expects bounce of (2) to fail below $14.08 high to turn lower in (3). Until it breaks below $10.18 low, it can do flat structure in ((B)), if breaks above $14.08 high. In that case, the extension area for ((C)) will change accordingly. We like to buy the pullback between $8.10 – $4.40 area against June-2022 low to extend higher.