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NKE Continues to Recover From Its 15% Correction

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    In the aftermath of its Dec-Feb 15% correction, NIKE, Inc. (NKE) has carved out a recovery-rally pattern that exhibits bullish form within a larger Jan-Mar accumulation formation that is creating upward price pressure towards a confrontation with key resistance lodged between 62.00 and 63.50, which if hurdled and sustained, will trigger upside projections to 69-70, and then to 72-73 thereafter. At this juncture, only a decline that breaks 58.00 will compromise the promising set-up.

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