Nike's stock (NKE) skidded in the last session after analysts gave low price targets on Friday, including from Morgan Stanley, RBC Capital Markets, after the sports apparel company reported less-than-expected profit margins for the first quarter, while cutting down profit forecasts for 2023, with the stock becoming the worst performer on Dow Jones, down 12.81%, or 12.21 points, and settling at 83.12, with trading volumes surpassing 48 million shares, above 10-day averages of 13.5 million shares. 

Technically, the stock is falling alongside the main downward short-term trend line, with negative pressure from the 50-day SMA, with positive signals from the RSI after reaching oversold levels. 

Therefore we expect more losses for the stock, targeting the first support at 76.20, provided it settles below 99.50.

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Expected trend for today: Bearish