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Nikeanalysis

$NKE NIKE | NIKE CEO RETIRES & PRICE RALLIES 9% - Sep 21st, 2024NYSE:NKE NIKE | NIKE CEO RETIRES & PRICE RALLIES 9% - Sep 21st, 2024 BUY/LONG ZONE (GREEN): $ DO NOT TRADE/DNT ZONE (WHITE): $ SELL/SHORT ZONE (RED): $ Weekly: Bearish Daily: Bullish 4H: Bullish NYSE:NKE price is now approaching the 88.00 - 89.00 level that was a previous support level (week of Apr01'24). Bearish momentum from Jun27'24 earnings broke this level. We are now revisiting it from a bullish rally that was spawned by the CEO retiring and a new one being appointed. The support, the break, and the retest are three visits to this level, which is why I'm now viewing it as a potential entry for trades. Keep an eye out for the Oct01 earnings call. This is what I would personally look at before entering trades, everything is subject to change on a daily basis and as I analyze different timeframes and ideas. ENTERTAINMENT PURPOSES ONLY, NOT FINANCIAL ADVICE! trendanalysis, trendtrading, priceaction, priceactiontrading, technicalindicators, supportandresistance, rangebreakout, rangebreakdown, rangetrading, chartpatterntrading, chartpatterns, spy, nike, nikestock, nke, nkestock, NYSE:NKE , nikeceo, nikeceoretires, nikeearnings, niketrend, nikelong, nikeshort, niketrade, nkeceo, newnikeceo, oldnikeceo, nikestockprice, niketradeidea, nikeearningsrelease, nikeearningstrade,
NYSE:NKE
by TonyAiello
1
TIME TO BUY NIKE ?We observed a significant decrease in Nike's price-to-earnings (P/E) ratio from 78.6 to 21, representing a multiyear low between 2020 and the present. Nike's stock has declined by 60% from its historical peak, prompting observations regarding market irrationality in driving the company's P/E ratio to its lowest level since 2017. Consequently, purchasing Nike stock has become a compelling proposition for investors, corroborated by the recommendations of Wall Street analysts. Guggenheim analysts have identified the stock's potential value at $115 per share, indicating a potential 36.9% upside from current levels. HSBC has initiated coverage of On Holding, maintaining a "hold" rating, while Citi continues to uphold a buy rating on Nike stock despite concerns about sales in China. Institutional investors responded to the decline by purchasing Nike shares, catalyzed by the announcement of hedge fund Pershing Square, under the leadership of Bill Ackman, acquiring a new stake in the company. This move was further supported by Pershing Square Capital Management, led by billionaire investor William Ackman, acquiring approximately 3 million Nike shares. Bernstein SocGen Group maintained an "Outperform" rating on Nike, citing improvements in the brand's performance metrics. Anticipated growth in sales driven by the Olympics and basketball is expected to provide an additional boost to Nike. We await the forthcoming fiscal Q3 '24 earnings report from Nike, scheduled for September 24, 2024, as an indicator of potential recovery. In conclusion, it is advisable to closely monitor the upcoming quarterly results.
NYSE:NKE
by Kartik_Elkunchwar
#NIKE Technical Analysis and Trade IdeaMarket Observations: NKE has decisively broken its previous downtrend, establishing a higher high. This bullish breach was further fueled by a liquidity run targeting sell stops below the recent triple-bottom (equal lows). The strong momentum accompanying this breakout signals a potential buying opportunity. Trade Strategy: Target a buy entry upon a retracement to the 61.8% Fibonacci level. Be sure to place a stop-loss order below the recent swing low to effectively manage risk. Maintain a favorable risk-reward ratio. Video Focus: This video explores the technical analysis principles that support this bullish perspective: - Trend Analysis: Identify breakouts and trend reversals with clarity. - Liquidity Runs: Understand how stops are targeted and the impact on price. - Fibonacci Retracements: Recognize key retracement levels for optimal entries. Disclaimer: This analysis is provided for educational purposes and should not be interpreted as financial advice. Thoroughly conduct your own research and assess your risk tolerance before making investment decisions.
NYSE:NKELong
by tradingwithanthony