After the nice fundamental analysis of @BamBamInvest and the hype, I thought I would take a brief look at the technical indicators at $NU (+0,66 %) .
No investment advice.
I am invested in Nu myself. In the pictures 4h-Candles in EUR are used (unless otherwise stated).
Possible bullish signals
- Nu has been in a relatively strict downtrend for more than a month now. downward trend which is now breaking down. The trend line has been broken and the price is currently hovering ~9% above support (recently rising).
- The last support has a comparatively high volume, which stabilizes the price. (Bar on the right in the picture)
- The MACD (Moving Average Convergence / Divergence) shows increasing upward momentum, and MACD and signal line are approaching the zero level from below, which could indicate a transition to an upward trend. (above: impulse-adjusted MACD, below: standard MACD)
- It is noticeable that the price has formed lower lows since mid-November ( -> downtrend), while the MACD has formed higher lows. This bullish & reversible divergence shows that although the price continues to fall, the downward momentum is decreasing and the trend is therefore tiring.
- The RSI (Relative Strength Index) currently currently higher lows and is therefore rising. Buyers are more active again and the momentum is shifting towards "bullish".
Possible bearish signals
- The price is still in a downward downward trendeven if the previously entered trend line was slightly broken.
- Even after the last rise, the price is still below below most of the moving averages. In addition, the 50-EMA is below the 100-EMAwhich is considered a downtrend. However, these intersections are often strongly delayed. (In the picture: 50-EMA light blue, 100-EMA dark blue and 200-EMA band in gold).
- The Stochastic Oscillator was at 90.30 at the close of the last 4H-candle and could therefore (at least in the very short term) already be considered overbought already overbought.
- The recent bullish momentum has weakened in the last few trading hours, but this and the previous feature are more interesting in the short term. (In the picture: 1H Heikin Ashi candles)
After a possible rise, further solid support and resistance levels with high volumes await the price. In order to reach the ATH of ~€15, the price would have to rise by around 42%.
I hope this article was helpful. If you find any errors or contradictions, please let me know.
All presented are merely my interpretation of the data.
Technical analysis involves risks and is no guarantee of future performance.
For information purposes only, own research is recommended.
Pictures from TradingView
