On Weekly: Left Chart NKE has been hovering inside a range in the shape of a symmetrical triangle.
Moreover, it is currently sitting around a strong round number 100.0
🏹 Hence, as long as the 100.0 support holds, we will be looking for buy setups on lower timeframes.
On Daily: Right Chart 📈 For the bulls to take over, we need a momentum candle close above the last major high in green at 107.0
📉 Meanwhile, NKE would be bearish, and if the 100.0 support is broken downward, we can expect a bearish continuation towards the lower weekly trendline where we will be looking for new buy setups.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly! ~Richard Nasr