Nike adds to losses - Analysis - 21-06-2021

Nike's stock (NKE) kept falling with a 0.40% loss in the last session, as the stock trades within a descending correctional price channel in the short term, with negative pressure from the 50-day SMA.

Therefore we expect more losses for the stock, targeting the first support at 125.65, provided it holds below 130.20. 

Expected trend for today: Bearish