Nike may fall to 70.80 - 73.40

Our pivot point stands at 85.7.

Our preference

Target 73.4.

Alternative scenario

The upside breakout of 85.7 would call for 90.2 and 92.8.

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 its 20 day moving average (84.1305) but above its 50 day moving average (81.4702).

Supports and resistances

92.8 **

90.2 *

85.7 **

84

82.15 (USD-last)

76

73.4 **

70.8 *

68.2 **

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