Nike exposed to negative pressure - Analysis - 22-03-2021

Nike's stock (NKE) skidded after the pivotal resistance of 147.17 and settling below the main upward medium-term trend line, with negative signals from the RSI after reaching overbought levels, while passing through the 50-day SMA support, doubling negative pressures. 

Therefore we expect more losses for the stock, targeting the support of 122.20. 

Expected trend for today: Bearish