NikeLong
29 Yr Ascending Channel Historical Supports
The last two times NKE has reached these two lower bands is 2008 and 2000. In 2008 the stock rebounded 35% from the second lowest band and 2000 the stock continued downward to the lowest band to rebound 60+% in just 8 weeks time from the lowest low. The point is, some market exposure at the second lowest band with reserve to buy at the lowest is better than missing the rally entirely. Historically, even if it continues to the lowest, it appears it doesn't spend much time there.
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