Nov. 21 at 2:16 AM
$NKE: The last close at
$61.45 indicates the stock is trading near the 60D low of
$60.29, suggesting potential support. The RSI at 39.97 is below the neutral level of 50, indicating bearish momentum but approaching oversold conditions. The MA30 at
$65.15 and MA50 at
$67.55 suggest a downtrend, as the price is below both moving averages.
Directional bias is bearish due to the RSI and moving averages, but proximity to the 60D low may provide a short-term reversal opportunity.
Suggested entry:
$60.50 (just above the 60D low). Stop loss:
$59.50 (to limit downside risk).
Targets:
$63.00 (first target, near MA30) and
$65.00 (second target, near MA50).
Monitor for any reversal signals, as the current metrics indicate a potential bounce off support.
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