Nike shares (NYSE:NKE) are in a clean bullish mode amid persistent volatility. The persistent volatility shows the ongoing struggle between the bull and the bears; with the bulls clearly gaining upper hands as the bears continuously fight a losing battle.
Here, 4 EMAs are used and they are EMAs 10, 20, 50 and 200. The color that stands for each EMA is shown at the top left corner of the chart. As you can see, all the EMAs are sloping upwards, supporting the price as it goes northwards. The price is now testing the market level at 81.80. It may break it to the upside, reaching resistance levels at 90.00 and 100.00 within the next several months.
Along the way, the price may be pulled back into the EMAs 10 or 20, but it would go further upwards again into the aforementioned targets.
This forecast is ended by the quote below:
“In its most simple form, the larger time frame on the charts is the secret to successful trading.” – Nick Santiagao
Learn from the Generals of the Markets: Market Generals
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