Chart Patterns & Algorithmic Trader ( Sept . 28 , ' 20 ) ( 45 )
NKE
Cup & Handle Pattern s
Reviewed in CPAT 6 / 15 / 20
Nike Inc Cl B ( NKE ) has formed a Cup and Handle pattern on its daily chart and trading above 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 and 151.2 .
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