Nike may fall to 53.10 - 58.00

Our pivot point is at 80.4.

Our preference

The downside prevails as long as 80.4 is resistance.

Alternative scenario

Above 80.4, look for 88.6 and 93.6.

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 80.313 and 88.2026).

Supports and resistances

93.6 **

88.6 *

80.4 **

77.2

72.38 (USD-last)

62.7

58 **

53.1 *

48.3 **

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