Let's see, earnings after market close, recent analyst downgrades over last week or so, & CEO just left to take over at
NKE
. What does the chart say?
You may have a head & shoulders pattern but that right shoulder is a bit ugly. If you do believe it is an H&S pattern, then the price target is $198.30 which would take the price back to fill the gap from January 30th. From a Fibonacci extension perspective, the price is currently around the 100% level while hitting support from the gap up back in January. This could be an ideal area to see a bounce before any continued declines.
New CEO claiming they want to be heavy on acquisitions so take what you will from that.
NKE
. What does the chart say? You may have a head & shoulders pattern but that right shoulder is a bit ugly. If you do believe it is an H&S pattern, then the price target is $198.30 which would take the price back to fill the gap from January 30th. From a Fibonacci extension perspective, the price is currently around the 100% level while hitting support from the gap up back in January. This could be an ideal area to see a bounce before any continued declines.
New CEO claiming they want to be heavy on acquisitions so take what you will from that.