NIKE (NKE): A Top Approaches

SUMMARY

Here is Nike (NKE) in a weekly chart Elliott Wave count. Look how the waves show that 1,2,3 and 4 are complete and 5 is already and if not, nearly complete. Would you be an active buyer or a seller at this stage?

The blue subwaves of wave 5 show that it's pretty near complete. Blue wave 5 could reach to $76 or so...but is it worth holding on for the las remaining brad crumbs? Why not leave the crumbs for the greedy? The pattern is also likley to forge out an upward wedge which is bearish. The MACD has made lower low (blue line and red circle) while price has made higher; yet, another bearish dievergence.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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