NKE has been enjoying this long term uptrend channel since a bottom in 2000!
Within last few months or so, two attempt have been made to pierce through this channel net but fail.
In turn, it developed into a nice ascending triangle.
Though MACD is increasing but the strength is much weaker. My MCD post encountered the identical scenario slightly earlier which resulted in a downside.
On the other hand, there is a possibility of 3rd and successful break out on the upside too
Big move is around the corner...
Within last few months or so, two attempt have been made to pierce through this channel net but fail.
In turn, it developed into a nice ascending triangle.
Though MACD is increasing but the strength is much weaker. My MCD post encountered the identical scenario slightly earlier which resulted in a downside.
On the other hand, there is a possibility of 3rd and successful break out on the upside too
Big move is around the corner...