Nike stalls - Analysis - 18-05-2018

Nike's stock (NKE) fell in the intraday levels, recording a loss of 0.56% in the last session, or 0.40 points, as traders collect recent short-term profits, while the stock gathers momentum to help it rise anew, while getting buoyed by a positive pattern that formed in the short term, the Symmetrical Triangle pattern as shown in the attached chart, with positive pressure from the 50-day SMA. 

Therefore we expect more gains for the stock, especially if it settled above 70.25, targeting the resistance of 74.56.