NIKE (NKE): Tippy Top?
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SUMMARY
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And yet another chart that shows a topping process. A top is not an event but a process; the same for a corrective bottom. Nike (NKE) has risen in five waves and thereby generating billions in profits for shareholders. However, is this sustainable? Chart shows that price is approaching wave 5 (red circle).
Note how the MACD has made lower highs while price has made higher highs. This is a bearish divergence and pretty much saying that this bullish impulse run is running on fumes. The subwaves of red wave 5 shows that white wave 3 is nearly or already complete and so waves 4 and 5 should complete the sequence. The tippy top is likely approaching. Is this the time to be an exhuberant buyer or a profit taker?
From a pattern perspective, there connection of the tops and bottoms of price bars show a potential for a bearish wedge to be in formation (white). This coupled with the bearish dievergence formulates to an impending correction. Caution and risk management should always be at forefront of any trader or investor.
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.
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To have Bitcoin is my dream . Thanks to this site maybe achievable
What to do, you need nerves of steel, patience and a lot of knowledge
Nike, just don’t do it and crypto only.
Good morning, Haejin. I was wondering if you wouldn't mind stopping by my blog later on so that we can discuss some things. I really think it would be a good idea for you to open up and talk about some of the problems you're having on this platform.