Nike, Inc_ store by-Thank you for the assistant via iStock

NIKE Confirms A Bullish Reversal With An Impulsive Recovery

Gregor Horvat Wavetraders Thu Jul 31, 3:40AM CDT
Nike, Inc_ store by-Thank you for the assistant via iStock

Nike is moving nicely as expected since our content from January 15 2025, where it was stepping into final stages of the wedge pattern within wave C of an ABC correction. CLICK HERE

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. CHECK IT HERE

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

NIKE Daily Chart
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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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