Nike driven lower by stubborn resistance - Analysis - 24-11-2021

Nike's stock (NKE) fell 1.20% in the last session, after the pivotal resistance of 174.25 held on, settling at  172.15, while gathering momentum to pierce that resistance in the future, amid the dominance of the main upward trend in the medium and short terms, coupled with positive support from the 50-day SMA.

Therefore we expect the stock to return higher, targeting the resistance of 182.30, provided the first resistance of 174.25 was breached.

Expected trend for today: Bullish