1) Been over 1 year since we have seen a decent correction.
2) A great company but that doesn't change the fact that after large moves up, corrections happen.
3) Monthly divergence on SLOW STOCHASTIC and FAST RSI
4) Upper trend line (resistance)
5) $100 psychological close by
4) By nature, I like to "snipe" major reversal points with tight stop losses.
6) I'm...
Using elliot wave analysis as my primary indicator and other technicals as supporting indicators, I am bearish on Nike. I believe the recent rise seen in Nike from the 84.76 level has been corrective fourth wave action. The MACD, RSI and Stoch indicators are embedded indications that Nike's fall from the low 100's to mid 80's was a third wave. I would also point...
