Welcome back to another dow30 stock analysis, today we take a look at Nike.
NKE
Nike is currently breaking high after high and there is still no end in sight!
As an example, nike gained more than 125% stock value since the bottom of the march crash.
It should be no surprise that everybody wants to participate in this rallye, but being careful in this situation is very important.
Nike formed a solid 1-2 in the last days and hit exactly the 0.618 retracement, this strongly points towards the start of a wave 3.
The next stop for nike will be 140$-150$, there we will see a short correction.
I will watch the market very closely in the next days and will announce an entry if i get the chance to.
Primary scenario:
In the next days and weeks we will reach prices above 140$ or even more, so stay tuned!
From there we will witness a very short wave 4 correction until the bulls push nike towards a new ATH.
Alternative scenario:
My alternative scenario will get triggered if we break the previous 1-2 setup at 125.55$.
Breaking this level would strongly indicate for a final wave C correction, which could bring us to prices as low as 110$.
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If you have questions related to a specific stock or the Elliot Wave theory, feel free to contact me.
NKE
Nike is currently breaking high after high and there is still no end in sight!
As an example, nike gained more than 125% stock value since the bottom of the march crash.
It should be no surprise that everybody wants to participate in this rallye, but being careful in this situation is very important.
Nike formed a solid 1-2 in the last days and hit exactly the 0.618 retracement, this strongly points towards the start of a wave 3.
The next stop for nike will be 140$-150$, there we will see a short correction.
I will watch the market very closely in the next days and will announce an entry if i get the chance to.
Primary scenario:
In the next days and weeks we will reach prices above 140$ or even more, so stay tuned!
From there we will witness a very short wave 4 correction until the bulls push nike towards a new ATH.
Alternative scenario:
My alternative scenario will get triggered if we break the previous 1-2 setup at 125.55$.
Breaking this level would strongly indicate for a final wave C correction, which could bring us to prices as low as 110$.
===================================================================================================================
If you have questions related to a specific stock or the Elliot Wave theory, feel free to contact me.
If you should have any questions regarding our analysis or elliot wave counts feel free to contact us.