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Triangle Formation on Nike’s Chart: Potential Upside Targets
Hello Traders,
We’ve spotted an interesting pattern forming on the chart of Nike (NKE). A triangle formation has emerged, and we’re currently sitting on the bottom line of this pattern. This could be a critical juncture for Nike’s price action.
If the price bounces upwards from here, we have identified a few target points and key resistance levels based on Fibonacci retracements. Here they are:
First Target: $112.60
Second Target: $137.56
Third Target: $167.69
I added a few potential trades that both have a risk factor of 3.
We’ve spotted an interesting pattern forming on the chart of Nike (NKE). A triangle formation has emerged, and we’re currently sitting on the bottom line of this pattern. This could be a critical juncture for Nike’s price action.
If the price bounces upwards from here, we have identified a few target points and key resistance levels based on Fibonacci retracements. Here they are:
First Target: $112.60
Second Target: $137.56
Third Target: $167.69
I added a few potential trades that both have a risk factor of 3.
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