$NKE: Short term decline ran its courseBy Monday, a signal to exit shorts or buy into strength to capture a potential rebound in the stock will trigger.
Keep an eye out for a new daily high to enter longs, stop a bit below the recent lowest low is fine.
Hold the trade for 5 business days or until it reaches the target shown by the rising arrow.
If it remains sideways instead of rally, it will likely trigger a new bearish trend signal, indicating continuation to the downside.
The long term trend was bullish as per quarterly data, so I am inclined to think the dip will get bot.
Best of luck!
Cheers,
Ivan Labrie.
