Nu Holdings Ltd.Long
NUBANK NU Problem!
Updated
Possible parallel channel break out.
- 1.618 Fib Ext & Channel target is $8.51 to $9.13
- Plucked positions at green circles for long term hold
- RSI continues to rise
- Above 200 day SMA (same as 40 week SMA)
- Failure to break above (which is very possible) will only lead me to make
another allocation on RSI trend line retest.
NUBANK Fundamentals look exciting
- Milestone of 80 million customers 2 weeks ago
- Brazil-based Nubank partnered Polygon to expand the reach of its Nucoin loyalty programme to its 80 million customers.
- In October 2022, the Nubank/Polygon announced the Nucoin token and launched a pilot run involving around 2000 users. Nucoin was designed to recognize customer loyalty and encourage engagement with Nubank products,
and by expanding the programme, the token could reach as many as 70 million customers across Brazil.
- David Marcus former Paypal CEO and former head of payments & crypto at META has been added to the NUBANK Board
- Nubank secured a loan of up to USD 150 million from the International Finance Corp in January 2023 in order to expand its operations in Colombia
- Nubank has a division in Colombia named Nu Colombia, which is a fast-growing credit card issuer. In August 2022, Nu Colombia made the announcement that the country's regulator had granted its proposal to form a financial
firm. This licence allowed Nu to add a full savings account linked to other credit products to its lineup of credit cards and e-wallets, as well as acquire deposits, a less expensive financing source similar to that used by large
banks.
- Approximately 35 percent of the Colombian adult population has no access to any formal financial services and are considered “unbanked,” according to the Colombian Banking Association. Some 79 percent of adults have no
access to credit cards. There is a HUGE market here for long term growth.
- Last 4 earnings reports have had surprised to the upside.
- Next earnings report is 15th May 2023 (key date for break of channel or rejection)
- We all know Warren Buffet holds a long position in Nubank.
- 1.618 Fib Ext & Channel target is $8.51 to $9.13
- Plucked positions at green circles for long term hold
- RSI continues to rise
- Above 200 day SMA (same as 40 week SMA)
- Failure to break above (which is very possible) will only lead me to make
another allocation on RSI trend line retest.
NUBANK Fundamentals look exciting
- Milestone of 80 million customers 2 weeks ago
- Brazil-based Nubank partnered Polygon to expand the reach of its Nucoin loyalty programme to its 80 million customers.
- In October 2022, the Nubank/Polygon announced the Nucoin token and launched a pilot run involving around 2000 users. Nucoin was designed to recognize customer loyalty and encourage engagement with Nubank products,
and by expanding the programme, the token could reach as many as 70 million customers across Brazil.
- David Marcus former Paypal CEO and former head of payments & crypto at META has been added to the NUBANK Board
- Nubank secured a loan of up to USD 150 million from the International Finance Corp in January 2023 in order to expand its operations in Colombia
- Nubank has a division in Colombia named Nu Colombia, which is a fast-growing credit card issuer. In August 2022, Nu Colombia made the announcement that the country's regulator had granted its proposal to form a financial
firm. This licence allowed Nu to add a full savings account linked to other credit products to its lineup of credit cards and e-wallets, as well as acquire deposits, a less expensive financing source similar to that used by large
banks.
- Approximately 35 percent of the Colombian adult population has no access to any formal financial services and are considered “unbanked,” according to the Colombian Banking Association. Some 79 percent of adults have no
access to credit cards. There is a HUGE market here for long term growth.
- Last 4 earnings reports have had surprised to the upside.
- Next earnings report is 15th May 2023 (key date for break of channel or rejection)
- We all know Warren Buffet holds a long position in Nubank.
Note
This trade could not be going better. I am going to remain in trade unless we break the 12 day SMA. I have been updating this on tw-itter
Trade active
100% up on our original buy in so far. Please see t=witter for updated chart with new SMA.Whilst long term bullish, I have been monitoring the 12 day SMA closely & we had a bounce off it since my last post so I remain with my full allocation.
Caution advised now because;
1. RSI is oversold for 5 weeks now
2. RSI Moving Average has turned down
3. Last time both of the above happened we had a
16% drop from the 12 SMA.
4. A 16% drop would closely align with the 200 day
SMA & the top of the original parallel channel. This
sort of 16 - 20% pull back would be reasonable
considering this sizable move we have had already
but again it is no guarantee but I see it as probable
at this stage. If it does pull back, It could be an
opportunity for a long term entry.
5. My initial target remains in place overhead.
If I remove 50% of my current position i will have removed my original stake with a little profit. The 12 Day SMA will judge if I do this.
Trade active
Price has not broken below the 12 day SMA. I has repeatedly bounced HOWEVER...if you press play above you can see that we have a weekly shooting star which might close tomorrow. I remain in the trade and will stay in the trade until the 12 day SMA is broken. This may occur tomorrow so please watch closely. As noted in update above i will skim my position get out my original stake and some profit...ill leave the rest ride.
Update to follow
Trade active
NUBank NU - STOP SET @ $7.51I have been watching the chart closely as we are 100% in profit and want to keep majority of it. I have set a stop due to the following;
1. Exit of parallel channel
2. Lost 12 Day SMA (& it starts to slopes down now)
3. If we lose POC stop will trigger at $7.51
The increasing in volume has kept me interested, lets see what happens. We can always reenter. I have set to sell 70% of my holding which will see me take my original stake with some profit.
Note
A new chart was shared today folks but this was the first chart of NuBank I shared. Simple entries with a long term view. NUBank -
NU ⚠️We already lost the 21 SMA
✅Raised my stop to $7.55
Good news is we have POC under price and we had two touch downs to the $7.70 level. IMO if we lose these both, the diagonal line too will be lost too & id rather get some of the position off the table.
I still think we can bounce and go higher with a wave 5 extension higher. You could enter a trade here and set a stop under POC to your risk tolerance. Would I do this? Only with a small position because we have had one hell of a run. An ideal entry would be off the 200 MA @$6.83 at present.
Lets see how this plays out. Incredible run and profit, and now a protective stop in place hat ensures gains will crystalize if structure is broken
PUKA
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