u s shares highlights nike inc 384802015
<p>Nike Inc (NKE) – Intermediate term bullish trend intact above 97.67/95.18 (Click to enlarge chart) Key elements Current price action has managed to stage a […]</p>
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Nike Inc (NKE) – Intermediate term bullish trend intact above 97.67/95.18
Key elements
- Current price action has managed to stage a rebound from the “gap” left between 19 and 20 March 2015, pull-back support (in dotted green) and the upward sloping 20-day Moving Average.
- The intermediate term RSI oscillator remains bullish above its support.
- The upper boundary (resistance) of the intermediate term ascending channel in place since 08 August 2014 stands at 107.68/109.17.
- The 107.68/109.17 resistance also confluences with a Fibonacci projection cluster.
Key levels (1 to 3 months)
Intermediate support: 97.67
Pivot (key support): 95.18
Resistance: 107.68/109.17
Next support: 90.29
Conclusion
As long as the 95.18 pivotal support holds, Nike is likely to see the continuation of its intermediate term bullish trend towards the 107.68/109.17 resistance zone.
However, a break below 95.18 may damage the bullish trend to see a correction to target the next support at 90.29 in the first instance.
Source: Charts are from eSignal
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