Let’s take a look at Amazon (AMZN), as I looked at this one long and hard today, but it just can’t seem to separate itself from the 50-day moving average, and the channel itself that i drew is a bit messy too. It definitely “feels” like something is there, but I don’t like trading on feelings.
And then there is Nike (NKE), which for the last five years continues to disappoint traders mightily, especially those trying to find a bottom. Today’s massive sell-off is no difference, and I’m sure traders will once again try to find that ever-elusive bottom that keeps evading them. But the stats don’t like and this is one stock that I’m staying away from.
Comments
Log in or sign up to join the conversation.