Nike is trading near major long-term support, having recently filled a key daily gap dating back to September 2014. Gap fills at historic levels often act as technical reset zones where selling pressure can become exhausted and long-term buyers begin stepping in. This area also represents an important support level for the company.
If NKE is going to rebound, this is the zone where momentum should begin building. A decisive breakout above the $52.00 level would confirm renewed bullish strength and open the door for a move toward the $60.91 resistance, offering meaningful upside from current prices.
NKE appears ready for a bounce after tagging its gap-fill level and stabilizing near support. With a clearly defined stop loss at $39.24, this setup offers a strong risk-to-reward ratio, allowing for controlled downside while targeting a solid recovery move.
Beyond the near-term trade, I also like Nike as a longer-term hold. As one of the most recognizable global consumer brands with strong pricing power, international reach, and a history of innovation, Nike remains a quality name for patient investors.
If NKE is going to rebound, this is the zone where momentum should begin building. A decisive breakout above the $52.00 level would confirm renewed bullish strength and open the door for a move toward the $60.91 resistance, offering meaningful upside from current prices.
NKE appears ready for a bounce after tagging its gap-fill level and stabilizing near support. With a clearly defined stop loss at $39.24, this setup offers a strong risk-to-reward ratio, allowing for controlled downside while targeting a solid recovery move.
Beyond the near-term trade, I also like Nike as a longer-term hold. As one of the most recognizable global consumer brands with strong pricing power, international reach, and a history of innovation, Nike remains a quality name for patient investors.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.