Shares of Nike $NKE reversed today's (3/21) gains after hours, despite a decent earnings report that matched or exceeded most expectations on Wall Street. Here are the key points from CNBC:- Earnings per share, adjusted: 68 cents vs. 65 cents expected- Revenue: $9.611 billion vs. $9.612 billion expectedThe disappointing component was a weaker-than-expected North America sales, which was up 7% on the year to $3.81B. This was short of estimates around 10%. Still, international sales was robust especially in China. I think NKE still has growth potential. Therefore, if NKE extends the after-hour declines, I would love to see it around $78.50, and would even consider scaling in around $80. (I had exited my entire position of NKE around $85 when price was coming up to the 2018 and historic high.)NKE Daily Chart(click to enlarge)New Highs:- It should be noted that NKE closed at $88.01, which was a historic high for a close. But we do see a bearish divergence as well, which could be a sign that some form of consolidation is ahead. - Looking for price around $78.50-$80 would be looking for a 10% correction. - I think that's going to be tough unless the overall market pulls back as well.- If this does materialize, we can see why this area could be a key support. - The 200-day simple moving average (SMA), and a previous support/resitsance pivot is in this area. - Furthermore, I would monitor the RSI and wait for it to pullback towards 40. A bullish market should keep the RSI above 40 (as it did throughout 2018 until October).