NIKE: Short-Term Trend Is Up With Last Week’s Low ($98) Being The Pivot

 | Apr 02, 2015 12:31AM ET

As long as Nike Inc (NYSE:NKE) shares support at $98 – $99 remains intact, I favor the scenario of a revisit to the the all-time high at $103.79. The 20-DMA has offered nice support in the last sessions. The short-term trend is up with last week’s low ($98) being the pivot point.

NKE daily chart (2 months):