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Nike Technical Analysis - Nike Trading: 2023-03-23
Nike Technical Analysis Summary
Below 119.27
Sell Stop
Above 125.99
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Buy |
| MA(200) | Sell |
| Fractals | Buy |
| Parabolic SAR | Sell |
Nike Chart Analysis
Nike Technical Analysis
The technical analysis of the NIKE stock price chart on 4-hour timeframe shows #S-NKE,H4 has breached below the 200-period moving average MA(200) after hitting 5-week high two days ago. We believe the bearish momentum will continue after the price breaches below the upper boundary of Donchian channel at 119.27. This level can be used as an entry point for placing a pending order to sell. The stop loss can be placed below the upper boundary of Donchian channel at 125.99. After placing the order, the stop loss is to be moved every day to the next fractal high, following Parabolic indicator signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (125.99) without reaching the order (119.27), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Stocks - Nike
NIKE stock dropped despite revenue beat. Will the NIKE stock price continue retreating?
NIKE, Inc. is an American corporation which designs and markets globally athletic footwear and apparel. Company’s market capitalization is $186.6 billion. The stock is trading at P/E ratio (Trailing Twelve Months) of 34.01 currently and at Forward P/E ratio of 29.41. Two days ago NIKE reported quarterly results that beat estimates. It also raised its full-year revenue outlook. The company posted revenue of $12.39 billion in the third quarter beating estimates of $11.47 billion. Nike upgraded its revenue forecast for the full year: it expects annual revenue to increase in the high-single-digit range, compared with its previous forecast of growth in the mid-single-digits. However NIKE said it expects 2023 gross margin to decline about 250 basis points, at the low end of its previous forecast range – citing strong US dollar, higher freight costs and efforts to offer steeper discounts in an attempt to get rid of excess inventory. Nike's shares closed down 4.86% on the day after quarterly results were published.
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