Nike may fall to 69.50 - 72.10

Our pivot point stands at 84.9.

Our preference

Under pressure below 84.9.

Alternative scenario

The upside breakout of 84.9 would call for 89.4 and 92.1.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 83.586 and 80.9968).

Supports and resistances

92.1 **

89.4 *

84.9 **

83.2

80.77 (USD-last)

74.7

72.1 **

69.5 *

66.8 **

Number of asterisks represents the strength of support and resistance levels.