Hubert Senters here.
Let’s take a look at Nike. It had given an updated target. So some people asking where I think it’s going to go. It’s obviously above the cloud. It’s trending well.
It’s fairly easy to figure out a target for this thing because it should just jump out at you. High. Low. High. And then you just work back.
So if you’re working with tools that will give you a projection like Fibonacci Price Extension what you’re going to do is from a low to a high to a higher low.
And then it will forward project to you some targets that you can play with. This is going to be low. That’s going to be the high and then you just have to go back to that point, this point and to that point.
Any of them will do for you. Let’s take the lowest swing here and work it from there. So if we were to go from this low right here to that high to this low this is going to to tell us the next target would be $122, $130 and potentially $138.
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Good luck. Hope it helps. See you on the next video.
Hubert.
