Today’s instrument is the Nike Inc. stock traded in the NYSE exchange under the ticker NKE.
When we look at the NKE’s chart, we can see that it is in a downward trend for the past few days, having its strong support level at around $160.5.
Nike will announce today its quarterly earnings and if the market’s anticipation is positive then we could expect its price to rise towards its first resistance level around $165-165.30 otherwise its price will break down its support level, heading towards its next support at around $152.7-155.
(Click on image to enlarge)
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