Nike, Inc (NKE) stock rose again in its latest intraday trading, supported by continued positive momentum from trading above its 50-day SMA. The stock remains under the influence of a short-term corrective uptrend, trading along an ascending trendline. Additionally, the Relative Strength Index has reached extremely oversold territory relative to the stocks movement, which strengthens the potential for further gains.

Therefore we expect the stock to rise in upcoming sessions, as long as support at $69.70 holds, targeting the key resistance level at $81.20.

Todays price forecast: Bullish.