Nike retests current resistance - Analysis - 13-04-2021

Nike's stock (NKE) rose 0.88% in the last session, retesting the important resistance of 136.25 while also touching the resistance of the 50-day SMA, amid the dominance of the downward correctional short-term wave, while hurt by piercing the main upward trend line recently, with negative signals from the RSI.

Therefore we expect the stock to return lower, targeting the first support of 130.25, provided the resistance of 136.25 holds ground. 

Expected trend for today: Likely Bearish