$NKE TOP 20
Added 2024-07-14 04:06:12 +0000 UTC$NKE is showing some signs of exhaustion from sellers and managed to hold above the $70 level so far, finding refugee on the final 0.887 Fib at $73.
It is now substantially below its 200 Day MA by -27%, which is a sign of how aggressive the selling has been here since its earnings report came out.
We know that the price action does not normally drift too far from its 200 Day MA, so I expect both to start merging together shortly but we need to see more now to be convinced that the selling is complete and the bottom is in.
We are however deep into the Buy Zone now, so in terms of Risk V Reward, these levels are in favour of the reward side, certainly for Long Term Investors, so considering a DCA strategy here would make sense.
