Short

NKE Short to 61.8 Retracement.

Updated

NKE tried to consolidate and break higher but has since failed. Consolidation broke to the downside and retested the support on a long wick. I believe this trade is short as long as we are below 166. The target to the downside is the 61.8 retracement level at about 158.

Note

NKE has earnings coming on Monday the 20th. Those results could alter this trade.

Trade closed: target reached

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