Chart Patterns & Algorithmic Trader (Aug. 24, '20) (62)
NKE Cup & Handle Pattern
s
Reviewed in CPAT
Nike Inc Cl B (NKE) is forming a Cup and Handle pattern on its daily chart and trading
near the breakout level of $105.72. C&H patterns are valid only when price closes
above the breakout level. A long trade is entered above the breakout level with a stop
placed below the lowest low of the mid cup $82.81, and the handle low $93.39. Targets
are placed at $122.96, $133.8 to $141.5.
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