NKE Bearish channel; inside week from Dec 5 to 9, and then outside week from Dec 12 to 16. Today (Dec 19) it broke below last week's low ... this is now the third week in a row of lower-lows.
Is it possible that it rallies and goes for a second outside week?
Anything is possible, but it is also up against the bearish channel on the upside. There is very little support on its downside however ...
Is it possible that it rallies and goes for a second outside week?
Anything is possible, but it is also up against the bearish channel on the upside. There is very little support on its downside however ...
My lesson from this chart: just because a chart is reaching a trendline / top or bottom of a bearish channel, doesn't mean it WILL bounce.