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Downtrend Broken Resist.Archive
- 4/19/2024 -
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NIKE Inc. (NKE) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a second consecutive positive week for the NIKE Inc. (NKE). During the week, the NKE gained 2.53 points, or 2.75%, and closed at 94.53 on Friday, April 19, 2024. Weekly volume was 26% above average.
 Long-term trend: [See NKE long-term trend chart]
A long-term downtrend had started on November 5, 2021 at 179.10 and reached 82.22 on October 3, 2022. NKE lost 96.88 points, or 54.09%, in 47 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (92.30) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. NKE may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See NKE medium-term trend chart]
A medium-term downtrend had started on December 20, 2023 at 123.39 and reached 88.77 on April 10, 2024. NKE lost 34.62 points, or 28.06%, in 16 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (87.17) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. NKE may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See NKE weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since January 19, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
 Short-term trend: [See NKE short-term trend chart]
A short-term uptrend had started on April 10, 2024 at 88.77 and reached 96.22 on April 19, 2024. NKE gained -7.45 points, or -8.39%, in 9 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See NKE daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic.
The daily MACD line is above its signal line since April 11, 2024. This is an indication that the short-term trend is up.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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