NKE : TRADE IDEA 2

NKE

Price Action

• NKE has been in a downtrend, recently pulling back to trendline support around $69–$70.
  

• Price is testing this support zone, which aligns with prior structure.
  

Support & Resistance

• Key support: $69–$70 (trendline + horizontal level)
  

• Resistance: $73–$75 (recent breakdown zone)
  

RSI (Relative Strength Index)

• RSI (14) in a downtrend but showing bullish divergence (higher lows vs price making lower lows)
  

• Suggests potential bounce from oversold territory.
  

MACD (Moving Average Convergence Divergence)

• MACD is deeply negative but flattening.
  

• Potential for a momentum shift if buyers step in.
  

Overall Setup

• NKE is sitting on critical support with bullish divergence on RSI!
  

• Bounce toward $73–$75 possible if support holds!
  

• Breakdown below $69 could open downside toward $65!