NUVEI NVEI looking to complete EW 5 waves

10 Ogo 2023

Looking at NVEI chart, initially listed on NASDAQ in Oct of 2021, shortly after completing 5 waves to end its first cycle trading on Canada's TSX. Had an incredible runup with an incredibly great ROI from its IPO price.

Nuvei has had some huge drops, along with some great rallies off those lows. GREAT profits for trading and building up some risk-free/low cost (DCA) positions.

I wouldnt encourage traders nor investors to start entering or accumulating assets here or now while indices are looking toppy and choppy; sure enough some great price action should take place before any major massive move down starts. But with a -60% drop from previous pivot high, we should get a rally bounce anywhere up to 50% before return to wherever the market decides to provide support.

Take note, the pivot high on April 14, 2023, which we labelled as a wave (4), did NOT retrace to the minimum 0.236 fib from the move down off the all time high. It can be favored that wave (3) is still in progress and close to completing, which would mean a very nice move up to complete a projected wave (4) (above the pivot high).

On EW count, looks like a simple 5 wave move down. At under 20$, seems like a great price range to take a small position for some quick profits until we get some more candles printed to help us put a more detailed wave count on the inner structure of current move down.

For now, we play the waiting game with a small position to hold. If/when we get bounce to 25-30$ from here, I will look to offload at least 50% of my position.

10 Ogo 2023

Nota

Canadas TSX chart
5 waves up to complete cycle I

10 Ogo 2023

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10 Ogo 2023

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an alternative count that could also be likely

10 Ogo 2023

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PLEASE NOTE: for some odd reason, the wave count isnt showing on the main chart at top. It may just be a glitch, idk, but if the above images aren't clear enough (we have 2 difference charts; 1 on TSX CAD $ and 1 on NASDAQ USD $), so take note of the price difference

4 Okt 2023

Nota

Bullish Divergence forming
a local bottom is close to ending

10 Nov 2023

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going well
not perfect but good enough.
lets see how this plays out
if you bought the lows, make sure to secure some profits

17 Nov 2023

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NUVEI looking great off the lows
* should * get 1 more move up before any significant pullback (doesnt have to, the 3 could be the 5, we won't know till its too late. If goes above 0.5 fib, we favor the 5 completed)
Take some profits

18 Feb

Nota

This will be tricky but so far so good
looks like wave 1 may be completed. Divergence showing between 3 against 5 justifying pullback pullback.
Could be a iii & iv awaiting to complete v to complete wave 1.

The RSI looks strong so we're supporting the bullish outlook until market shows us otherwise (yes, stay cautious, indices are looking sharp strong but overbought with lots of divergence favoring a major pullback/correction overdue, doesn't mean stocks cant move higher while indices correct).
On this count, if we go below the 1.618, then we favor a double abc correction We've taken out the 0.5 fib so this is bullish, it favors very minimal downside against the current low in place and very unlikely to make another low here, so if this pans out, this could be the bottom for NUVEI for a rather long time (at least until markets decide to turn bear again, or crash)


so a iv typrically retraces 0.236 - 0.382 the move, should NOT exceed 0.5 fib (if it does, it favors it as not a iv.
wave 2 on the other hand, can retrace all the way back down to 0.764-0.786, area, which could present a GREAT buying opportunity as we can see there is a massive unfilled gap
the right side is just a hypothetical scenario that *could* play out, personally I would love that.
RN, there is no major trade to be made, if you bought below 20$ usd, can take some profits and use it to buy the pullback as u see fit.

18 Feb

Nota

TAKE NOTE:
sometimes I make small error with FIB retracement tool between using the "regular" and 'log scale" - I dont think I'll ever figure out the 'correct' version but I often alternate using them when looking at smaller moves and timeframes and esp for crypto so sometimes I forget to change it back. In above post I mentioned 'we took out the 0.5 fib" well this can also be subjective so ALWAYS ALWAYS use your own charts and setups to make your own decision.Its incorrect what I said, we did NOT take out the 0.5 FIB:
$43.81 -$13.32= $30.49
$30.49 x 0.5 = $15.245
$43.81 - $14.245= $28.565
$13.32 + $15.245 = $28.565
LOG scale here in INCORRECT so we will use 'regular' scale
LOG:
Regular:
Yes, it makes a difference in every aspect until a major trend is consistent and on cruise control.
Take note of that I will recheck my post above and update, on your end just make sure you manage your numbers on your charts as well

18 Feb

Nota

and since we've yet to take out the 0.5 fib, it means it can still be a 4 awaiting to complete 5 of (5).
THIS is important to take note of.
Its unlikely the case, but also possible and very key to consider.
So taking some profits here in this 25-30$ range could prove to be a good decision, doesnt mean to sell the position just means to secure some profits, this is what we'll use to buy dips

18 Feb

Nota

In the overall outlook of the wave count, our (4) is a legit wave (4) that touched the 0l.236 fib (using regular scale)
The price exceeded 0.236 during premarket before big dump started