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NKE is trading around $135-$136 currently. Price has so far retraced 38% of the entire decline from 2021 highs. Price has formed a higher low and is in a bullish short-term trend. This upward momentum has bullish implications for the short-term.
Green lines - equal size upward moves
NKE stock price is expected to make an equal size upward move similar to the one in February and March. The minimum upside target is at $145-$146 and it will be confirmed once price breaks above $139-$140 where we saw a short-term top at the end of March. As long as price is above $124 NKE stock price has the potential to move towards $145-$146.
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