price supported on 200 week ma and 50 month ma, fib retrace from jan highs indicates we should see a move to 325. price is currently supported on massive volume at 295, which makes me think it wont get brought below that level. completion of the fifth wave could take price to the 161.8% fib at 460. just a thought.
looks bullish to me. weekly and monthly charts are both on major supports, 200 ma and 50 ma respectively. not to mention a substantial block of volume from 290 to 330, which makes me think price will be brought back to the top of the volume zone. on the daily chart you can see price was lost under the 23.6% fib retracement from jan high to mar lows, however...
NYSE:NKE should find its way down to the 61.8% fibonacci line, breaking below pitchfork support, before making its way back up to my entry target of $85 (78.6% fib). After that it should have regained enough strength to give it the push to 90. Volume needs to come back before a breakout through 90 occurs.
