Nike tries to recoup some losses - Analysis - 13-01-2022

Nike's stock (NKE) rose 1.27% in the last session, while recouping some losses and venting off oversold saturation in the RSI, settling at 152.21, retesting the current resistance at 152.28, representing the ratio 50% of Fibonacci retracement levels for an ascending wave in the medium term (from 125.42 to 178.08), with negative pressure from the 50-day SMA.

Therefore we expect the stock to return lower, targeting the next support at at 145.92, representing the ratio 61.8%.

Expected trend for today: Bearish