$LULU - RC -
Added 2023-05-29 16:46:15 +0000 UTC$LULU and $NKE have both experienced excessive pull backs lately but both are not particularly concerning right now. From out chart that hasn't changed since our last update, we are likely seeing a Subwave 2 pull back of Wave 3 here, particularly if the price can hold above the yellow trend line and just below between the 0.5 Fib and the 0.618 Fib the 200 Day MA looks to be crossing within these important Wave 2 Fib levels....so as long as the price action is behaving in this manner, there is no concerns here.
Bulls would like to see the 0.618 Fib held, same scenario for $NKE too.
Comments
Could it also be expected to see it bounce off the yellow trend line which was previously acting as resistance and flip it to support?
Anthony
2023-05-30 10:31:51 +0000 UTC
