Nike may fall to 53.70 - 58.50

Our pivot point stands at 82.1.

Our preference

The downside prevails as long as 82.1 is resistance.

Alternative scenario

The upside breakout of 82.1 would call for 90.5 and 95.5.

Comment

The RSI is below 30. It could either mean that the stock is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the share stands below its 20 and 50 day moving average (respectively at 89.2165 and 91.4278).

Supports and resistances

95.5 **

90.5 *

82.1 **

78.8

73.05 (USD-last)

63.3

58.5 **

53.7 *

48.8 **

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