Nike is expected to report its quarterly earnings tomorrow. The company is expected to report an EPS of $0.52 on revenue of $11.65bn. As of today’s US market open, its shares are trading at around $88.70 a share and are down around 19.5% year-to-date. According to TipRanks, the implied move following the earnings release is around +/- 6.7%. By analysing the stock based on the weekly interval, we can see a new support level has been established at $69.84 following the break lower on the week that commenced on 24^th June. Prior to this move lower, the support base between $84-$89 was the key area in focus. We can see that this area is now in focus once again as we head into the earnings. A negative reaction post earnings may have investors look toward the near-term support of $76.75. A break below here would then likely see the attention shift towards the year’s low of $69.84. On the other hand, a positive outcome may see the stock close above $90 a share for the first time since June. This would perhaps build momentum for a test of the resistance around $98.64. Looking at the technical indicators, we can see optimism is certainly present as the MACD is on a strong rise and positive. However, it's yet to cross above its zero line. The last time it was above the zero line was back in May of 2023. This indicates that a trend reversal is yet to be confirmed. The RSI is back to a neutral stance after the last few have seen the price grind higher.