The Long Investor

$NKE TOP 20

Added 2024-10-01 10:59:12 +0000 UTC

$NKE is also in the same situation as $BTC and $AMD, battling at an important level

I highlighted on Sunday that the $89 level is a legacy support/resistance level, so flipping this to support will be significant and a trend change

We can see that there has been some resistance here as we lead into earnings tomorrow after the close

The big question will be whether $NKE has improved on their previous earnings, which saw a massive drop post earnings from $96 to $70.....so there may be some profit taking leading up to earnings here.

It is not clear cut which way this will go, the impulse wave looks great still but a retest of the 50 Day MA at $79 can not be ruled out if the earnings miss.