$NKE responded well to $LULU's very positive earnings report and had gone above the 50 Day MA during Fridays session, however the price did finish below this level and is still in the middle of the Buy Zone right now.
$NKE has not followed the market to new ATH's and is not in Wave 5....it has just completed its ABC correction.....so if the market corrects shortly, $NKE is likely in a good position to move against the market and it often moves very well when China has a bullish move too.
$104 remains my target for $NKE if the reversal is confirmed here shortly.
Brian
2024-12-09 01:38:52 +0000 UTCDaniel
2024-12-08 18:56:52 +0000 UTC