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NILE Setting Up As A Nice Short

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September 29, 2010 – Comments (0) | RELATED TICKERS: NILE

I came across Blue Nile (NILE) this morning as I was going through my scans. NILE stuck out to me mainly  because of the multi-year resistance levels that is seen just above the current price. Also this stock is in the beginning of a well-defined downtrend, and if it can break below the mid-40's where price has found some short-term support at, it could see selling all the way down into the mid-30's. 

Here's the chart on Blue Nile (NILE).

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