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 , 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.
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 .
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 theory, feel free to contact me.
The RSI is dangerously overbought and we haven't had a major correction since march. I see much better opportunities in other stocks, like Amgen or Apple.
If i spot a profitable entry i will don't hesitate to publish an analysis on Nike.