Nike pierces upside trend line - Analysis - 21-12-2021

Nike's stock (NKE) tumbled 2.71% in the last session amid negative pressure from the 50-day SMA, leading to a breach in the upside short-term trend line, and doubling negative pressures, with negative signals from the RSI after reaching oversold levels, settling thereafter at 156.98.

Therefore we expect more losses for the stock, targeting the first support at 151.50, provided the resistance of 161.60 holds on.

Expected trend for today: Bearish