Nike potential rebound, but stars are not aligned yet

NKE looks at a strong potential bullish reversal from the bottom after price action suggests a double bottom forming. Furthermore, the stock is looking at a potential upside as well after it has broken out of the falling wedge formation.

MACD histogram is slightly positive while the mid-term Stochastic Oscillator has performed an oversold crossover. 23-period ROC saw momentum rising and is back into the upside. Volume remain in a cool and healthy expansion.