NIKE quotes continue to move within the framework of strong growth after going beyond the protracted sideways trend. Moving averages indicate the presence of a short-term bullish trend for NKE. Prices have broken up the area between the signal lines, which indicates pressure from buyers of securities. At the time of publication of the forecast, the price of NIKE shares is 159.95. Within the framework of the forecast of the NKE stock price, we should expect an attempt to develop a correction and a test of the support level near the area of 149.00. Then, a rebound up and a continuation of the rise in the value of securities. The potential target of such a movement is the area above the level of 195.05.
An additional signal in favor of the rise of NKE quotes will be a test of a broken trend line on the relative strength indicator (RSI), as we can see, buyers have been trying to break through this line for a long time. The second signal will be a rebound from the support area on the price chart. The cancellation of the growth option of the NIKE stock price quotes will be a fall and a breakdown of the 127.00 level. This will indicate a breakdown of the support area, as well as the lower border of the channel and the continuation of the fall to the area at the level of 100.00. We should expect an acceleration of the stock's rise with a breakdown of the resistance area and a close above the 170.00 level, which will indicate a breakdown of the upper limit of the bullish channel.
NIKE shares forecast for July and August 2021
Thus, the NIKE Stock forecast for July and August 2021 suggests the development of a correction and a test of the support area near the level of 149.00. From where we should expect a rebound and an attempt to continue the stock's rise to the area above the level of 195.05. The trend line test on the relative strength indicator will be in favor of the growth of securities. The cancellation of the NKE rise option will be a drop and a breakdown of the 127.00 level. This will indicate a breakdown of support and a continuation of the fall in the value to the area below the level of 100.00. As you can see, the technical analysis of NIKE shares indicates the probability of a correction from the current levels, but the continuation of the rise and the breakdown of the 170.00 level will form a very strong signal with the growth of the company's shares above the 200.00 level.