Nov. 15 at 8:03 AM
$NKE trade plan:
Market context indicates a bearish sentiment as the last close of
$64.17 is below both the 30-day MA of
$66.07 and the 50-day MA of
$68.49. The RSI at 36.72 suggests that the stock is nearing oversold territory, which may indicate a potential reversal or continued weakness. The price is also within the 60-day range, with a high of
$80.17 and a low of
$60.29, indicating a consolidation phase.
Directional bias leans bearish due to the price action below the moving averages, but the low RSI suggests caution for further downside.
Suggested entry:
$63.50 (below current close to confirm bearish momentum).
Stop loss:
$65.50 (above recent resistance).
Targets:
$60.50 (near the 60D low) and
$58.00 (psychological support level).
Monitor for any changes in RSI or price action that may indicate a shift in momentum.
https://privateprofiteers.com
