Nike Inc (NYSE: NKE) shares are trading higher by $0.13 at $61.60 in Friday's session. After its fall from grace following its Q3 report, the issue has established a major support level.

On the day following the report, it bottomed at $61.15, which has turned into a key support level. In five of the last six sessions, it has bottomed in a narrow range from $61.12–$61.31, with the one outlier being Wednesday's session, when it bottomed at $61.71.

Since the report, the upside has been limited as well, with a pair of high from Wednesday ($62.41) and Thursday ($62.64) marking the top end of the trading range.