Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Nike stock price slid 1.86% in the last trading session to close at 102.86 weakening the lower support levels.</a> </li> 
 <li> <span>2</span> <a>Nike’s share (NYSE: NKE) price consolidated at lower levels after a decline in May and is currently preparing to resume the fall.</a> </li> 
 <li> <span>3</span> <a>The price has already lost the support of key moving averages which have turned resistance for the price now.&nbsp;</a> </li> 
</ul> 
<p>Nike’s (NYSE: NKE) stock price had been under selling pressure after topping out in May 2023. The price sharply declined from $123 to $103. The $100 level halted the free fall in the stock and buyers showed some interest. Thereafter, the price went volatile and tried a recovery but experienced strong selling pressure near $115 and declined further.&nbsp;</p> 
<p>The Sellers made aggressive short positions as the price recovered to the neckline of the double top. The 200 EMA also acted as a selling level for the bears and the buyers lost the momentum in the game.&nbsp;</p> 
<p>Recently, the Nike price consolidated after a decline, and is currently trying to resume its declining trend as the price is experiencing strong selling pressure from the upper levels. The last hope for the buyers is the immediate support level of $100 from where the price may receive some buying volume.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/-J2wrABuHhIdqSNHzADm51OjS_0vI6pC4_jtCJ1B6XY_OuP0jyYA-rt31e_TMlEAr09m56EisECccub0U-cjO0B7faYKvoriABaYbKR4asoDYVN_zlJUsZW0eoYt2ZTLD6SCCgIxw1WN5x2Jcp0bLg" alt="Nike&nbsp; Stock Turning Bearish: Sharp Selling Below This Level?"> 
  <figcaption class="wp-element-caption">
    &nbsp;&nbsp;&nbsp;Source: barchart.com 
  </figcaption> 
 </figure> 
</div> 
<p>Nike stock derivatives data analysis states that the current implied volatility in the market is 26.89% with an increment of 1.4% in the last trading session. The at-the-money strike price has 597 open contracts on the put side and 282 open contracts on the call side indicating the dominance of buyers at the current level. The PUT/CALL ratio is 1.19 indicating buyers dominating the sentiment in the market as per the data.</p> 
<h2 class="wp-block-heading" id="strong-nike-stock-price-may-resume-its-downfall-below-100-mark-strong"><strong>Nike Stock Price May Resume Its Downfall Below $100 Mark.</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/_r_rG9aCiqdVkpDp7V2p71h3eo-YG_pMOuybz_vf1ItGUZNl3SIMPV1RIzXzkgCaas3wChbDHjtVqf46sguenRBxpk7KTu7kAvjOZ3S5YFgZkv0VknljsEwS86rM28S8A8sVEK-zdz12KXbHxQTwHA" alt="Nike&nbsp; Stock Turning Bearish: Sharp Selling Below This Level?"> 
  <figcaption class="wp-element-caption">
    Source: NKE 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>Nike Price is currently trading at $102.86 with a declining 8% in the last 1 week indicating that the sellers are trying to resume the long-term trend.&nbsp;</p> 
<p>The short-term outlook of the analysts indicates the price trend to be neutral until the price stays above the $100 level. The breakdown of the $100 level may trigger a sharp selling in the stock and the Nike price may slip towards the $95 level.&nbsp;</p> 
<p>The long-term trend is bearish in the stock which is inviting the sellers to enter the market at every rise. The short-term may align with the long-term trend if the price falls below the $100 mark.&nbsp;&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-technical-indicators-signal-the-resumption-of-the-current-trend-strong"><strong>Technical Indicators Signal The Resumption Of The Current Trend.</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/cSFwbdYq3kboZiKrFZWBP4E2scevyu-CrBfNJR1AjXdDoSdmj9-D4ObiBTUb-Na7N-drIfTP0M5br4P_AJEocBie9cqup7-Agp2suXWAFf_f6ouQSWDJ_gC53LIv8I4L3jDdR6lJ8d7ofCd3aHQeYA" alt="Nike&nbsp; Stock Turning Bearish: Sharp Selling Below This Level?"> 
  <figcaption class="wp-element-caption">
    Source: NKE 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>The Nike price is trading below 200 EMA indicating the stock trend to be bearish in the long run. The price also suffered rejection from the 50 EMA and slid down indicating the presence of sellers in the short term.</p> 
<p>The overall technical indicators including RSI and MACD opinion rating for the stock is a 90% buy with a strong short-term outlook on maintaining the current trend. long-term indicators are showing bearishness and fully support the continuation of the ongoing trend.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/08/16/nike-stock-price-prediction-will-nke-stock-breakdown-soon/" target="_blank" rel="noopener noreferrer nofollow">Nike’s stock price prediction</a> concludes that the price has been under selling pressure since May 2023, declining from $123 to $103. The $100 level halted the free fall and buyers showed interest to surge the price. Thereafter,&nbsp; The price went volatile and experienced strong selling pressure near $115. The short-term outlook is neutral until the price stays above $100. The price may show a sharp selling below the $100 level as the short-term aligns with the long-term trend. The long-term trend is bearish, inviting sellers to enter the market at every rise. The current implied volatility is 26.89% with a PUT/CALL ratio of 1.19 indicating positive sentiment in the weekly option chain data.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support levels:</strong> $100.61 and $94.43.</li> 
 <li><strong>Resistance levels:</strong> $111.73 and $115.45.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

Nike Stock Turning Bearish: Sharp Selling Below This Level?

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Thecoinrepublic.com

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