NKE to break higher on technicals and earningsNike had a good earnings report this past quarter beating over 100% of the analysts' expectations on some strong volume too. We can see the potential of the break of the top on these higher lows as well.
The current resistance is at $130-$131 where we have see the level get tested time and time again on strong bullish momentum and candles, meaning whoever is stopping form price moving through that level has a lot of stops hidden above. That buy stop run could open up price aggressively to the first target at $145.00 or so.
There is the possibility we pullback to close the gap or into the $123 support too before rocketing higher. The higher probability move is the breakout though. With the potential Santa Claus rally coming through and the elections resolving some of the uncertainty in the market, it would see that retail especially online retail may get a nice push this year due to quarantine as well.
This idea is for educational purposes only, should not be taken as investment advice or trading advice.
