$NKE TOP 20
Added 2023-10-08 21:08:45 +0000 UTCVery nice bounce on the trend line here, which was a confluence level around the 0.78 - 0.887 Fib which has been a popular Fib level at the moment for this large market pull back.
What is important to watch now is the Wave 2 pull back which would have this coming back to the yellow trend line again and if support is found here, this would be a buy signal.
By then the price should be above the 50 Day MA.
There is no rush here buying if I am being honest, there is still a risk of the trend line not holding and it can come down.
The risk is reduced once the price goes above the 200 Day MA at $110.
