Pacific

Resistance

Daily

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>NKE stock shows a rounding top pattern and has slipped below the round mark of $100.</a> </li> 
 <li> <span>2</span> <a>NKE stock has been dragging the pace and showing bearishness for the past sessions.</a> </li> 
</ul> 
<p>Nike stock (NKE) price is trading on the bearish track and has shown seller dominance for the past sessions. Moreover, the price action showcased that sellers persisted in making short positions and succeeded in dragging below the round mark of $100. Furthermore, follow-up selling toward the immediate support mark of $90 can be anticipated in the following sessions. However, the strong support is near $85, where a decisive bounce can be seen. Moreover, the chart shows that NKE stock is trading below the key moving averages and is hovering close to the lower Bollinger band, indicating selling pressure over the bulls.&nbsp;</p> 
<p>Nike stock price showcased lower demand, and market sentiments show a negative outlook for NKE stock. Recently, Wells Fargo revised the target price from $130 to $120 maintaining the overweight rating, whereas UBS says that NKE will outperform despite the weak growth outlook. However, reports depend on the performance of its first quarter, which, if it meets the market estimates, would lead to a rally; otherwise, NKE stock will continue to face headwinds and drag toward $50 soon.</p> 
<p>At press time, NKE stock price was trading at $94.62 with an intraday drop of 0.93%, showing bearishness on the charts. Moreover, the trading volume increased by 1.76% to 9.909 Million, and the market cap is $144.766 Billion. However, analysts maintain a neutral rating with a yearly target price of $120, suggesting that NKE stock still has room for retesting the higher sides.</p> 
<p>NIKE, Inc. designs, develops, markets, and sells athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America, Europe, Middle East &amp; Africa, Greater China, Asia Pacific &amp; Latin America, Global Brand Divisions, Converse, and Corporate. The segments of North America, Europe, Middle East &amp; Africa, Greater China, and Asia Pacific &amp; Latin America refer to the design, development, marketing, and selling of athletic footwear, apparel, and equipment. The Global Brand Divisions represent its NIKE Brand licensing businesses.</p> 
<h2 class="wp-block-heading" id="strong-nke-stock-price-action-shows-bearishness-on-daily-charts-strong"><strong>NKE Stock Price Action Shows Bearishness on Daily Charts</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/VzXe1Lfh5iv8MMJw7CHR3kWvfmtzJ6jPvHPtA4gpiNoXS84H8rNkFc4q4IFN8AhJ2_J1RgBTs8-U2n6ABz-LVI5ZLQZgFVbZxN0dAdAUz-BnZzm7BAVTMaMKZT-ih0ijMjWFQv-Df_924zIugVE4JSc" alt="Nike Stock (NYSE: NKE) Price Loses Momentum, Slips Below $100"> 
  <figcaption class="wp-element-caption">
    Source: NKE Stock Price Chart At TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>On the daily charts, <a href="https://www.thecoinrepublic.com/2023/08/22/nike-stock-turning-bearish-sharp-selling-below-this-level/" rel="noopener noreferrer nofollow">NKE stock price </a>is trading below the cluster of $100, showing weak cues over the past number of sessions. Furthermore, the price action delivers short buildup activity, and bulls have lost the initial gains and are under pressure due to the low investor interest. Moreover, sellers looked aggressive, maintained strength, and did not permit the bulls to outperform.</p> 
<p>The RSI curve stayed in the oversold region and showed a bearish divergence, indicating a negative outlook for the upcoming sessions.</p> 
<p>The MACD indicator showed a bearish crossover and formed red bars on the histogram, suggesting a significant downside is yet to be witnessed in the following sessions.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>Nike stock (NKE) price is trading below the significant moving averages, showing seller dominance on the charts. Moreover, NKE stock has now slipped below the round mark of $100, indicating negative cues, and may drop further when the bulls unwind. If the price slips below $90, it would head for the $80 mark. If it sustains near $95, it would retain the spot of $100 soon.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p><strong>Support Levels</strong>: $90 and $80</p> 
<p><strong>Resistance Levels</strong>: $100 and $110</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.</p>

Nike Stock (NYSE: NKE) Price Loses Momentum, Slips Below $100

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