NKE Chart Rising Wedge Overbot Negative Divergence
Setting up nicely for the short side on the daily and weekly charts. Note the rising wedge, overbot stochastics and negative divergence across all indicators. Watch the RSI and money flow 50% levels. Watch to see if the 20 MA crosses below the 50 MA which is bearish. The flattening of the 200-day MA shows interest in the stock is waning. As price rises notice how volume participation decreases. The trader that sold at 98 should be happy. Projection is sideways to sideways lower for the weeks and months to come.
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