Nike exposed anew to negative pressure - Analysis - 06-12-2018

Nike's stock returned lower after the important resistance of 78.59 held on, getting exposed anew to the negative pressure from the 50-day SMA, thus recording a final loss of 2.76%, or 2.15 points, while the RSI reached overbought levels. 

Therefore we expect more losses for the stock, as long as the resistance of 78.59 holds on, targeting the support of 71.41. 

Expected trend for today: Bearish