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Nike
Short

NKE FREERUNS TO THE LOWS

By BlueLineTradingLLC
When looking at the chart, we have a clear three wave structure coming down from the November 2021 high. That puts the current price action in wave C, with the question of where will wave C end. That said, institutional activity has left a clear roadmap with strong support at the .764 extension around $57, which should create a fresh low on the weekly RSI to start looking up again.
Technical IndicatorsTrend AnalysisWave Analysis
BlueLineTradingLLC

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