$SKX - RC -
Added 2024-01-06 19:50:46 +0000 UTC$SKX has not shown the aggressive pull back following $NKE's lower guidance which is showing that $SKX is quite strong and immune from the sectors tremors....so far.
We know that the chart is very bullish, especially since breaking above the blue line at $55.87 and the yellow trend line at $58.89.
Price will likely seek to find support on one of these levels next, before we have it moving higher for Wave 3 at the 1.618 Fib at $93.
A hold of support at one of these levels is a buy signal.
Comments
Can you please help me with some fundamental question, when do we consider finding a support at a particular level- i mean lets say price breaks a certain level in this case $58.89, how soon it may turn into support, i read from your earlier posts that breaking a level doesn't necessarily mean that the stock has found support at that level..i am trying to understand this concept before rushing to add something that might cause a pull back or that might not even pull back and keep running higher for next target
Ram S
2024-01-06 21:00:26 +0000 UTC
