Nike: Expected To Approach Its Resistance Level At Approximately $100
Today’s instrument is the Nike Inc. Class B company traded on the NYSE exchange under the ticker NKE.
Looking at the NKE ‘s chart, we see that it is in a downward trend, and it is traded at the current price of around $97 which is close to its 52w low at around $95.35.
Today if it will manage to keep the price above its support level of around $95.50, then we could see it approaching its resistance level at around $100 and if it breaks it through then it might test its next resistance level at around $102.50.
(Click on image to enlarge)
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