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 (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.
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