Nike may rise to 92.60 - 95.10

Our pivot point is at 80.4.

Our preference

The upside prevails as long as 80.4 is support.

Alternative scenario

The downside breakout of 80.4 would call for 76.5 and 74.1.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 78.6525 and 79.0596).

Supports and resistances

97.5 **

95.1 *

92.6 **

90.3

85.29 (USD-last)

82

80.4 **

76.5 *

74.1 **

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