Nike extends gains

Nike's stock (NKE) kept rising in the intraday levels, buoyed by positive pressure from the 50-day SMA, and amid the dominance of the upward correctional wave in the short term, with negative signals from the RSI after reaching overbought levels, hurting the stock's movements.

Therefore we expect the stock to rise and target the resistance of 138.65, provided it settles above 118.47.