Watch for These Levels in Nike's Stock Price Amid Earnings-Related Weakness

Key TakeawaysNike shares dropped more than 12% in extended trading on Thursday after the company reported weaker-than-expected quarterly revenue and cut its sales outlook.The stock sits poised to break down from a rising wedge pattern.A measured move in Nike shares, which we calculate by subtracting the distance of the downtrend preceding the rising wedge from the pattern's lower trendline, projects a price target of $75.It's also worth monitoring if a prominent swing low that formed on the chart in October ...