Short NKE

٢٢ نوفمبر ٢٠١٧

Nike has been sideways since mid 2016, forming a box in a 49 to 60 range. We are currently approaching the upper range resistance, with an overbought RSI at 77 which is starting to flatten out. Placing a stop just above the resistance near 61 and targeting the 0.618 Fibonacci Golden Ratio for profit. Risk/Reward ratio 3.64.