NKE is showing a classic Broadening Formation. Don't miss the move.
Expanding volatility. Sign of instability.
Reversal pattern. Price likely to break upwards.
Reversal pattern after a downtrend.
Market participants tracking Nike, Inc. should note the latest formation. The stock is trading at $44.2, up 3.01% on the day. Price action has carved out a classic Double Bottom. The trend indicator is reading 51.0/100, suggesting moderate momentum. A potential breakout level is identified at $60.11, targeting $78.13 with support near $51.1 (R:R 2.0).
What is your outlook on NKE?