NKE has been in an uptrend since back in ’89 when your dad was rocking the fresh Jordan 4s. Will look for possible long term buy entry.
Price was previously in a descending triangle and after making a series of lower highs into 167 support area, it broke down mid Dec. ’21. From there, price proceeded to pullback to previous support where it bounced off turning it into a resistance level. Price followed by falling into support area between 144-150 which once acting as a resistance level. Currently, we have had back to back days that ended as doji candlesticks at support area with stochastic reading of oversold. This is my que to enter trade long.
Since we still have not broken any of the lower highs, I will be taking a swing trade to the down trendline above created by the lower highs.