Nike dominated by descending correctional wave - Analysis - 19-10-2018

Nike's stock fell in the intraday levels, recording another loss of 1.15% in the last session, or 0.88 points, while hurt by piercing the upside trend line previously in the short term, with negative pressure from the 50-day SMA, countered with positive signals from the RSI after reaching oversold levels. 

Therefore we expect more losses for the stock, targeting the support of 69.81, as long as the resistance of 79.00 holds on. 

Expected trend for today: Bearish