Nike adds to gains - Analysis - 13-12-2017

Nike's stock (NKE) kept rising in the intraday levels, scoring a fresh profit of 0.42% in the last session, or 0.26 points, amid positive support from the 50-day SMA, with positive signals from the RSI, settling thereafter above 60.87, a level that represents the ratio 61.8% of Fibonacci retracement levels for a descending wave in the medium term (from 49.01 to 68.19). 

Therefore we expect more gains for the stock, targeting the resistance of 63.67, which represents the ratio 76.4% of the same retracement levels, as long as the support of 60.87 holds on.