Nike may rise to 88.20 - 93.10

Our pivot point stands at 64.8.

Our preference

Short term rebound towards 88.2.

Alternative scenario

The downside breakout of 64.8 would call for 56.7 and 52.

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 negative and above its signal line. The configuration is mixed. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 75.682 and 86.6096).

Supports and resistances

98 **

93.1 *

88.2 **

83.3

71.09 (USD-last)

68

64.8 **

56.7 *

52 **

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