Asset Watch
Thursday, June 22, 2023
But outside of the pandemic-induced decline, the 50-week MA has been reliable support since 2019, and the strength is even more formidable when the 50-week MA is trending higher.
However, the January 2023 breakout occurred with the 50-week MA trending lower, and Nike couldn’t hold it. So even though the metric moves sideways and attempts an upward turn, the next breakout could solidify a bull run.
Will Nike a “buy stock” over the next couple of weeks, or will the recent downtrend persist?