By Mill Chart
Last update: Feb 3, 2023
NIKE INC -CL B (NYSE:NKE) was identified as a Technical Breakout Setup Pattern by our stockscreener. Such a pattern occurs when we see a pause in a strong uptrend: after a strong rise the stock is consolidating a bit and at some point the trend may be continued. Whether this actually happens can not be predicted of course, but it may be a good idea to keep and eye on NYSE:NKE.
ChartMill assigns a Technical Rating to every stock. This score ranges from 0 to 10 and is updated daily. The score is determined by evaluating multiple technical indicators and properties.
Overall NKE gets a technical rating of 8 out of 10. Although NKE is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NYSE:NKE scores a 7 out of 10:
Besides having an excellent technical rating, NKE also presents a decent setup pattern. Prices have been consolidating lately. Another positive sign is the recent Pocket Pivot signal.
For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.
This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.
Our Breakout analyzer lists more breakout setups and is updated daily.
NIKE INC -CL B
NYSE:NKE (4/19/2024, 7:06:36 PM)
After market: 94.3 -0.23 (-0.24%)94.53
-1.21 (-1.26%)
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