White lines- weekly channel
Yellow lines - Bearish descending triangle
Before the earnings Nike was completed a bearish that pushed it below its 50 and 100 sma.
tomorrow depending on how hard the market rallies I think Nike will retest that previous support turned resistance where it will then get rejected and head lower to its weekly support around 153.
Some important numbers
50sma - 166.48
100sma - 164.19
In the aftermarket I notice Nike struggling to get over 164 (100sma)..Keep that in mind..
Yellow lines - Bearish descending triangle
Before the earnings Nike was completed a bearish that pushed it below its 50 and 100 sma.
tomorrow depending on how hard the market rallies I think Nike will retest that previous support turned resistance where it will then get rejected and head lower to its weekly support around 153.
Some important numbers
50sma - 166.48
100sma - 164.19
In the aftermarket I notice Nike struggling to get over 164 (100sma)..Keep that in mind..
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I'm short here.. Over shot and went to 170 fibonacci resistance .. stop loss 168
