NU: Ascending Wedge Formation, Bearish Pressure Ahead!Nu Holdings Ltd. Class ABATS:NUVincePrinceHello There, welcome to my new analysis about NU on the weekly timeframe perspective. In recent times I have spotted interesting setups in the whole stock market that lead to profitable trading opportunities. Currently, I follow a total return approach by considering long and short candidate stocks. NU is a candidate on the short side. As when looking at my chart, we can watch there how NU formed this massive ascending wedge formation in which the wave count already completed. Since then, NU broke out below the lower boundary and is now forming the bearish confirmation setup. Also, the settlement below the 50-EMA in grey and the 100-EMA in red forms substantial resistances. With the breakdown below these levels, NU activated the lower target zones. The initial bearish target zone is within the 8 area. The further bearish target zone is below the 5 area. Also, increased bearish pressure supports the downside movement. Once the final target zone has been reached, further assumptions about the bearish development need to be made. In this manner, thank you a lot for watching! The support is highly appreciated. VP