Will Nu Continue Rally After Unusual Volume Activity Last Week?

Sep 4

Above 9.67 low, it favors upside in fifth wave and expect to finish the impulse started from all time low before the major correction starts. Last week, it traded with unusually high volume above 10X, which provides few scenarios. (1). It favors upside in v and can unfold 5 internal waves, while dips remain above 9.67 low but still main momentum divergence. (2). It may see minor upside as v and the volume can be exhaustion move before it reverses in larger correction, which confirms below 9.67 low or by breaking the trendline. (3). It will start nesting higher and erase the momentum divergence, which extend higher. That move should ideally supported by gap up move.