DISCLAIMER: This is not trading advice. This is for educational and entertainment purposes only to demonstrate how I view this market. Trading involves real risk. Do your own due diligence. Based on my multi-timeframe analysis strategy, I have been looking for setups to go long Nike. Seems like daunting proposition considering Nike's overall weakness this year....
NYSE:NKE continues its overall uptrend despite the recent drop of -60% to the downside. All you need in order to catch the reversal of the decade is simply one line: a support trendline. Nike is currently approaching a support trendline, which has been sending prices higher for the past 30 years. Just this fact alone makes me believe that we will see (much)...
In this update we review the recent price action in NIke and identify the next high probability trading pattern and price objectives to target