Nu Holdings Ltd. (NU) stock price recorded gains in its latest intraday trading, as the stocks rise brought it into contact with resistance at its 50-day SMA. This exposed the stock to negative pressure, causing it to bounce lower and trim much of its early gains, amid the dominance of a short-term corrective bearish wave. In the background, negative signals are beginning to emerge from the Stochastic indicator after reaching extremely overbought levels, which adds more negative pressure to the stocks upcoming movements.

Therefore we expect the stock price to decline during its upcoming trading sessions, as long as resistance at $15.90 remains intact, targeting the support level at $13.40.

Todays price forecast: Bearish