Nike shares (NYSE:NKE) are in a clean bullish mode
amid persistent volatility. The persistent volatility shows the ongoing
struggle between the bull and the bears; with the bulls clearly gaining upper
hands as the bears continuously fight a losing battle.
Here, 4 EMAs are used and they are EMAs 10, 20, 50
and 200. The color that stands for each EMA is shown at the top left corner of
the chart. As you can see, all the EMAs are sloping upwards, supporting the
price as it goes northwards. The price is now testing the market level at 81.80.
It may break it to the upside, reaching resistance levels at 90.00 and 100.00
within the next several months.
Along the way, the price may be pulled back into the
EMAs 10 or 20, but it would go further upwards again into the aforementioned
targets.
This forecast is ended by the quote below:
“In its most
simple form, the larger time frame on the charts is the secret to successful
trading.” –
Nick Santiagao
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Learn from the Generals of the Markets: Market Generals
No comments:
Post a Comment