Quick update on $NEBIUS(NBIS)$ — the stock just put in a lower low after making a higher high earlier. I said publicly that Wave 4 was done, and that call turned out to be wrong. I'll own that one.
What matters now is this pullback has reached the 0.618 Fibonacci retracement, which is a pretty standard level for a deeper Wave 4 correction, especially coming off a shallow Wave 2. The bigger structure is still holding — the Wave 1 high hasn't been broken, and the broader trend is being tested rather than invalidated. Risk/reward is starting to look more interesting at these levels.
I'm not brushing off the volatility, but one deeper pullback doesn't really change the long-term thesis for me. $NEBIUS(NBIS)$ remains something I'm watching closely. If the bullish structure resumes, the next major target is still $400. Price needs to confirm, as always.
The question I keep coming back to — what carries more weight here, the technical structure or the AI infrastructure fundamentals?
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