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?