Key Takeaways
- Nike shares plunged Thursday amid concerns the Trump administration’s recently announced reciprocal tariffs could weigh on the company’s profits.
- Since breaking down below the neckline of a head and shoulders pattern last June, the stock has continued to trend sharply lower, with the price falling decisively below the 200-month moving average to kick off April.
- Investors should watch crucial support levels on Nike’s monthly chart around $50 and $40, while also monitoring key resistance levels near $68 and $86.
Nike (NKE) shares tumbled Thursday amid concerns that the Trump administration’s recently announced reciprocal tariffs could weigh on the company’s profits.
Under Washington’s new levies, Nike’s key…
