Nike may fall to 52.70 - 57.40

Our pivot point stands at 79.

Our preference

The downside prevails as long as 79 is resistance.

Alternative scenario

Above 79, look for 87.1 and 91.9.

Comment

The RSI is trading below 30. This could mean that either the stock is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 86.839 and 90.5666).

Supports and resistances

91.9 **

87.1 *

79 **

75.8

72.54 (USD-last)

62.1

57.4 **

52.7 *

47.9 **

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