Triangle Formation on Nike’s Chart: Potential Upside Targets

Hello Traders,

We’ve spotted an interesting pattern forming on the chart of Nike (NKE). A triangle formation has emerged, and we’re currently sitting on the bottom line of this pattern. This could be a critical juncture for Nike’s price action.

If the price bounces upwards from here, we have identified a few target points and key resistance levels based on Fibonacci retracements. Here they are:

First Target: $112.60

Second Target: $137.56

Third Target: $167.69

I added a few potential trades that both have a risk factor of 3.