Nike tries to vent off overbought saturation - Analysis - 08-02-2019

Nike's stock slid 0.39% in the last session, or 0.32 points, while venting off overbought saturation in the RSI, as it gathered momentum to help it rise anew, amid the dominance of the main upward trend in the medium and short terms, with positive pressure from the 50-day SMA. 

Therefore we expect the stock to return higher, as long as the support of 79.74 holds on, targeting the pivotal resistance of 85.87. 

Expected trend for today: Likely Bullish