NIKE: On a key long term pivot and almost oversold.

Nike is almost oversold on the 1D technical outlook (RSI = 33.787, MACD = -2.530, ADX = 53.733) and is trading sideways inside the P1 Zone, which is the Pivot Band that has started several rebounds inside this 1 year Triangle pattern. This isn't an automatic buy for us yet, we need to see the price crossing over the 1D MA50 before buying and aim at the LH trendline (TP = 119.00). If P1 breaks downwards, we will on the HL trendline and aim again at the LH trendline (TP = 119.00).

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