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If this support is broken, there is next good support from 2010 in the $52 to $53 areaThe relative performance broke down two weeks ago as support (line c) was brokenThe RS line had formed lower lows since last summer (line b), indicating it was weaker than the S 500The weekly OBV continues to make lower highs (line d), and dropped to significant new lows in the past few weeksThere is initial resistance now in the $65 area, with further levels around $67.50 to $68Nike (NKE) was hit hard after it reported eaings just over a week ago. It had reached a high of $114.81 in May but dropped to as low as $85.91 on June 29. This was a drop over 25% from the highs. NKE is still testing its weekly Starc- band.

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If you see the results, it has been equally divided in all three quarters that means they have a stable working and this is expected from Q4 as well. So, taking all this into consideration, whenever you have renewed interest coming back in these stocks or maybe because of the some corporate aouncements or some expectations coming, the stock takes good jump from these levels. So, downside is virtually low. But one can expect a price to move to at least Rs 30 in next six months.

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