INike (NKE) – [ Technical Outlook, Bouncing Off The Gap Support]

Image source: Nike.com

Chart Source: Tradingview.com

Nike a well known and familiar brand to all has seen its share price pullback over the couple of weeks.

The retracement is about 10% which is a healthy pullback to us. It has bounced off the gap support of around $152.40 and moved up to the $157 horizontal resistance line. Staying above this resistance might see it move towards $160 level which is the 50ema. A further break of that might see it move towards $166.

The support is $152 then $147.

What would your trade plan for Nike be?

Yours

Humbly

Kelwin&Roy

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