Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

NKE Nike Inc: Near Support

|Includes:Nike Inc. (NKE)

NKE has been in an uptrend since it bounced off the $78 to
$79 area in August 2011. It closed at $107.88 on 3/27.

The following daily chart shows it is currently near the $107
support area which was the resistance area in February. It
is also at the bottom of an uptrend channel started on 8/9/11.

Watch NKE to see if it can break above recent $109 resistance
area.

NKE_20120327_DailyClick to enlarge

Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in NKE over the next 72 hours.

Stocks: NKE