Nike Wave Analysis 9 April 2024

– Nike reversed from powerful support level 88.50

– Likely to rise to resistance level 95.00

Nike recently reversed up with the daily Morning Star from the powerful support level 88.50, which also stopped the extended downtrend in September of 2023.

The support level 88.50 was strengthened by the lower daily Bollinger Band and the support trendline of the daily down channel from January.

Given the strength of the support level 88.50 Nike can be expected to rise to the next resistance level 95.00 (former minor correction high from March).