Rose

Million

Resistance

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>NVEI stock price has opened a gap-down after breaking support.</a> </li> 
 <li> <span>2</span> <a>The company’s sales showed a growth of more than 15% year-on-year.</a> </li> 
 <li> <span>3</span> <a>The current share price is on the verge of breaking a resistance level.</a> </li> 
</ul> 
<p>The Canada-based Fintech firm Nuvei Corporation (NASDAQ: NVEI) is a provider of payment solutions and technology. Payment gateways, security and risk management, subscription and recurring billing, multi-currency pricing, dynamic currency translation, and ACH payment processing services are some of the services it offers. The company has a market cap of $2.63 Billion and an employee size of $1.69K.</p> 
<h2 class="wp-block-heading" id="strong-fundamental-outlook-for-nvei-strong"><strong>Fundamental Outlook for NVEI</strong></h2> 
<p>Nuvei Corp. has revealed its quarterly financial outcomes for the three months ending September 30, 2023. The association has grown its sales by 55% to $304.9 Million and its profit has increased by 13%.&nbsp;</p> 
<p>Nuvei Corp. saw increased incomes from various channels, with worldwide trade income expanding by 25% year-over-year, and B2B, government, and ISV income expanding by 16% year-over-year.&nbsp;</p> 
<p>Moreover, the organization’s top management has approved and aggregated a dividend of $0.10. The management also shared that this dividend will be paid from the company’s cash in hand.</p> 
<h3 class="wp-block-heading" id="strong-management-is-optimistic-strong"><strong>Management is Optimistic</strong></h3> 
<p>According to the recent earnings report, the management is optimistic about the business momentum and has raised the outlook for the full year. The daily average volumes in October and early November have met the expectations. The management also updates that there are no indications of any changes in the near-term spending environment.&nbsp;</p> 
<p>The updated outlook range for the full year shows an increase in total volume and adjusted EBITDA. Moreover, a narrowing of the outlook range by an increase in the low end for revenue and revenue at constant currency.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-and-prediction-of-the-nvei-stock-price-strong"><strong>Technical Analysis and Prediction of the NVEI Stock Price</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img loading="lazy" decoding="async" width="1600" height="763" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-151.png" alt="NVEI Stock Price: Bulls Rose 20%; Outperforming the Market" class="wp-image-179912" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-151.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-151-300x143.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-151-1024x488.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-151-768x366.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-151-1536x732.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-151-750x358.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/11/image-151-1140x544.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   NASDAQ: NVEI stock chart by <a href="https://in.tradingview.com/chart/X78t0Vyp/?symbol=NASDAQ%3ANVEI">Tradingview&nbsp;</a>
  </figcaption>
 </figure>
</div> 
<p>At press time, the NVEI <a href="https://www.thecoinrepublic.com/2023/11/05/jpm-stock-price-fed-is-not-done-yet-says-jamie-dimon/" target="_blank" rel="noreferrer noopener">stock price</a> is moving downward on a long horizon. However, the NVEI stock has reclaimed its immediate support of $13.4, and it is trading at a level of $18.86. Moreover, the stock is near its first resistance of $18.63. Beyond these two immediate levels, the second support is at $11.0, while the second resistance level for the NVEI stock will be $24.1</p> 
<p>The relative strength index, on the other hand, has already reached its overbought level. The current scenario indicates that the bulls might be feeling selling pressure from the bears as they are in a supply zone with overbought RSI levels.&nbsp;</p> 
<p>Moreover, the gap between the RSI and its SMA is significantly large, which means that the NVEI stock price is likely to see some corrections before breaking the current resistance.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Nuvei Corporation (NASDAQ: NVEI) posted its quarterly reports in which the company has shown some significant growth. Despite the net profit being negative, the firm has announced a cash dividend. The current price is on the verge of breaking a resistance.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Levels:</strong> $13.42 and $11.0</li> 
 <li><strong>Resistance Levels: </strong>$18.63 and $24.07</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks or related indexes comes with a risk of financial loss.</p>

NVEI Stock Price: Bulls Rose 20%; Outperforming the Market

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