Nike confirms a bullish reversal with an impulsive recovery [Video]

Nike is moving nicely as expected since our content from January 14 2025, where it was stepping into final stages of the wedge pattern within wave C of an ABC correction. 

We talked about Nike on July 10 again, where we mentioned and highlighted a completed higher degree ABC correction in wave IV on the monthly and weekly charts.

Today we want to represent a closer view, as we see a five-wave impulsive recovery away from the lows on a daily chart. It actually confirms the bottom and bullish reversal, but since it can be trading in 5th wave that can stop around 80-85 area, we should be aware of a three-wave corrective setback soon. It can slow down the price back to the open GAP, so ideal buy zone is in the 70-60 area. Invalidation level is at 52.

Highlights:
Direction: Up, but watch out for a correction
Structure: Impulse, Wave 5 in final stages
Support: 70 / 60

For a detailed view and more analysis like this, you may want to watch below our latest recording of a live webinar streamed on July 28 2025:

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