Nike may fall to 52.50 - 57.30

Our pivot point stands at 79.4.

Our preference

The downside prevails as long as 79.4 is resistance.

Alternative scenario

The upside breakout of 79.4 would call for 87.5 and 92.4.

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 share stands below its 20 and 50 day moving average (respectively at 82.5295 and 89.0038).

Supports and resistances

92.4 **

87.5 *

79.4 **

76.2

72.81 (USD-last)

62

57.3 **

52.5 *

47.8 **

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