Nu Holdings Ltd.Long
$NU $18 USD target
Cup and Handle Pattern Analysis
Cup Formation:
Starting at $12: The stock initially reaches a high of $12, which serves as the left rim of the cup.
Bottom at $5: Over time, the stock declines to a low of $5, forming the bottom of the cup. This indicates a period of consolidation and accumulation as investors are gradually buying at lower prices.
Rise back to $12: The stock then rises back to $12, completing the right side of the cup. This symmetrical shape resembles a cup and shows that buyers are regaining control and pushing the price back up to previous highs.
Handle Formation:
After reaching the $12 level, the stock experiences a slight pullback, forming the handle. This pullback is usually shallow, not falling below the mid-point of the cup, and indicates a temporary consolidation before the next move higher.
The handle typically slopes downward or moves sideways, signaling that the market is taking a brief pause before continuing the upward trend.
Breakout Point:
Once the stock breaks above the $12 resistance level (the right rim of the cup), it signals a breakout. This breakout is often accompanied by higher trading volume, confirming the strength of the move.
Projection to $18
Measured Move: The target price after a cup and handle breakout is typically estimated by measuring the depth of the cup and adding it to the breakout point.
Depth of the Cup: $12 (rim) - $5 (bottom) = $7.
Breakout Point: $12.
Price Target: $12 + $7 = $19.
Cup Formation:
Starting at $12: The stock initially reaches a high of $12, which serves as the left rim of the cup.
Bottom at $5: Over time, the stock declines to a low of $5, forming the bottom of the cup. This indicates a period of consolidation and accumulation as investors are gradually buying at lower prices.
Rise back to $12: The stock then rises back to $12, completing the right side of the cup. This symmetrical shape resembles a cup and shows that buyers are regaining control and pushing the price back up to previous highs.
Handle Formation:
After reaching the $12 level, the stock experiences a slight pullback, forming the handle. This pullback is usually shallow, not falling below the mid-point of the cup, and indicates a temporary consolidation before the next move higher.
The handle typically slopes downward or moves sideways, signaling that the market is taking a brief pause before continuing the upward trend.
Breakout Point:
Once the stock breaks above the $12 resistance level (the right rim of the cup), it signals a breakout. This breakout is often accompanied by higher trading volume, confirming the strength of the move.
Projection to $18
Measured Move: The target price after a cup and handle breakout is typically estimated by measuring the depth of the cup and adding it to the breakout point.
Depth of the Cup: $12 (rim) - $5 (bottom) = $7.
Breakout Point: $12.
Price Target: $12 + $7 = $19.
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