Wed. Feb 28th, 2024

Nike (NKE:NYSE) has been running uphill at a fast pace. Has been consolidating for the past 5 months. Is it ready for a next leg up? Let’s check the 10 year monthly candle chart to start. Ascending trend line still valid. The arrows are the implied measured move added to the breakout line.

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Here is the weekly candle chart (5 years). Test in progress on the 100 level (resistance and breakout line).

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Zoom in on the daily action. Closing in on the breakout line. Multiple test of the line.

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I set an alert at 100. A monthly candle close above and this would confirm the continuation breakout to 108.

Those shoes might just still got some miles left on them after all!