Nike Stock (NKE) Chart Breaks Below $60 and Down 3.2% – April 4 2016

Nike stock trades on the New York Stock Exchange under the symbol NKE. The Nike stock chart today show clearly the damage being done in the sell-off.

Nike Stock (NKE) Chart – 3 Month

The 3 month chart below shows today’s pullback to below $60.00. The stock had been trending sideways since a drop on March 23 following the latest quarterly earnings report. Much of the drop is being caused today by a number of downgrades by analysts who expect revenue going forward to be weaker than at first expected. Most analysts are reverting their outlook for Nike Stock from above $70 to between $67.50 to $70. None have yet to change their outlook to below $60.00.  On the 26 analysts surveyed, 5 have reduced their outlook from strong buy to buy and 3 have moved to hold on the stock. 8 analysts still have Nike Stock as a strong buy.

While $60 may appear to be support looking at the Nike Stock Chart below, actual support is down at $57.50. Volume today is just slightly above average although it is primarily negative.

Nike Stock Chart - 3 Months to April 4 2016

Nike Stock Chart – 3 Months to April 4 2016

Nike Stock (NKE) – Trade Alert

I entered a new trade today in Nike Stock. I have a larger article to be posted after hours on Nike Stock after reviewing the Nike Stock Chart today. For now this article explains today’s trade alert to members and how I am planning on handling and profiting from the latest pullback.

ullyInformed Members can review the latest Nike Stock (NKE) trade ideas  through this link or they can sign in to the full members site here. Non-members can join here or read about the benefits of being a member.

Disclaimer: There are risks involved in all investment strategies and investors can and do lose capital. Trade at your own risk. Stocks, options and investing are risky and can result in considerable losses. None of the strategies, stocks or information discussed and presented are financial or trading advice or recommendations. Everything presented and discussed are the author’s own trade ideas and opinions which the author may or may not enter into. The author assumes no liability for topics, ideas, errors, omissions, content and external links and trades done or not done. The author may or may not enter the trades mentioned. Some positions in mentioned stocks may already be held or are being adjusted.

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