$NKE TOP 20
Added 2024-04-14 19:16:07 +0000 UTCTalk about being saved on the red line.
$NKE bulls needed to hold the red line at $88 and they managed to do that and bounced.....this can be considered a double bottom but would need to start showing some strength, meaning a higher high and higher low in an impulse count next.
Getting back above the 50 Day MA at $99 now would also signal a bullish indication.
CEO of $NKE blamed staff for working a 4 day week and too much remote working which effected innovation.....I think this was unfair but we do not know the struggle they have been in trying to get staff back to work....what we do know is that they are under pressure from fast growing american apparalel companies eating into the market share.
So it is time to rally the troops, not pointing blame right now.....as remote working would have been agreed by management in the first place.
$NKE is not a buy for me right now.
