Stock Analysis:-Best stocks to swing trade right now – Nu Holdings Lttd.(NU).
Trade Details:
Friday, 6 September 2024 – Stock Nu Holdings Ltd. (NU)
Closing Price: $13.70
Starting with the weekly time frame, Nu Holdings Ltd. (NU) shows a clear higher-high, higher-low (HH-HL) pattern on the chart.
According to this timeframe, the stock is trading within an Ascending Broadening Wedge pattern. The previous weekly candle reveals ultra-high volume, which, in Volume Spread Analysis (VSA), indicates a buying climax.
This suggests weakness at the top, signaling that a price drop may occur in the coming weeks.
When we look at the 4-hour (H4) time frame, the chart reveals a shift from a buying structure to a selling trend.
Note: If the price breaks and closes above $15, this bearish setup becomes invalid.
Sell Swing Trade Idea:-
Sell Entry Range: $14.10 – $14.65
Stop Loss: $15.09
Target 1: $12.83
Target 2: $11.70
Best stocks to swing trade right now – Nu Holdings Ltd. (NU)
Note: Always remember: risk no more than 1% per trade.” Keep trailing your stop loss to secure bigger profits.
Please note this is only an opinion and not financial advice.
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