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Nike $NKE PUT WRITING last week and now some call flow ~ 07/28 $111 CALLS
By: FLOWrensics | July 24, 2023
• $NKE PUT WRITING last week and now some call flow ~ 07/28 $111 CALLS.
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Nike PUT WRITING into the $111 & $110 puts for 07/28/ exp
By: FLOWrensics | July 21, 2023
• $NKE PUT WRITING into the $111 & $110 puts for 07/28/ exp.
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Nike $NKE Repeat OTM sweepers in to 07/28 $112 CALLS
By: FLOWrensics | July 20, 2023
• $NKE Repeat OTM sweepers in to 07/28 $112 CALLS.
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Today Nike Inc. (NKE) is the best performer in the DJIA
By: Thom Hartle | July 13, 2023
• Today (8:33 CST), the best performer in the DJIA is NIKE Inc ClsB. NKE.
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Nike (NKE) Stock Drops on Rare Earnings Miss
By: Schaeffer's Investment Research | June 30, 2023
• Nike announced profits of 66 cents per share, which came just below estimates
• The retailer also issued a disappointing forecast
Nike Inc (NYSE:NKE) announced its first earnings miss in three years after the close yesterday. The retailer reported fiscal fourth-quarter profits of 66 cents per share, which is just below analysts' anticipated 67 cents per share, though revenue topped estimates. The company issued a disappointing first-quarter outlook as well. No fewer than nine analysts slashed their price targets after the event, though three threw in price-target hikes.
NKE is down 2.2% at $110.87 at last glance, and earlier dropped as low as $109.80. The stock's 320-day moving average has been keeping a lid on gains this month. Year-to-date, the equity sports a 5.4% deficit.
So far today, 87,000 calls and 84,000 puts have crossed the tape, which is five times the volume typically seen at this point. The weekly 6/30 113-strike call is the most active contract, with new positions opening there.
It's also worth noting that Nike stock has tended to outperform options traders' volatility expectations, per its Schaeffer's Volatility Scorecard (SVS) of 85 out of a possible 100.
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Nike's $NKE most recent quarter visualized
By: Savvy Trader | June 30, 2023
• Nike's $NKE most recent quarter visualized.
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Nike $NKE shares falling in extended hours trading after disclosing that markdowns and higher than expected costs ate into the company's profits
By: Barchart | June 29, 2023
• Nike $NKE shares falling in extended hours trading after disclosing that markdowns and higher than expected costs ate into the company's profits.
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Nike earnings missed by $0.02, revenue topped estimates
By: Investing.com | June 29, 2023
Nike (NYSE: NKE) reported fourth quarter EPS of $0.66, $0.02 worse than the analyst estimate of $0.68. Revenue for the quarter came in at $12.8B versus the consensus estimate of $12.58B.
Nike's stock price closed at $113.40. It is down -7.53% in the last 3 months and up 10.96% in the last 12 months.
Nike saw 5 positive EPS revisions and 7 negative EPS revisions in the last 90 days. See Nike's stock price’s past reactions to earnings here.
According to InvestingPro, Nike's Financial Health score is "good performance".
Check out Nike's recent earnings performance, and Nike's financials here.
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~bought 7/14 $135 calls @.14c small position lotto
Earnings Preview: Nike Inc. (NYSE: NKE)
By: 24/7 Wall St. | June 28, 2023
• Here’s a preview of two companies set to report earnings late Thursday or early Friday. These are the last two notable earnings reports scheduled for release until late next week. Our preview of that one will be posted on Wednesday, July 5.
Nike
Over the past 12 months, shares of athletic gear maker Nike Inc. (NYSE: NKE) have risen by about 2.8%, including a decline of 7.4% in the first month of the company’s August quarter. The Dow component reports quarterly results after Thursday’s closing bell.
Nike recently announced new wholesale agreements with Macy’s and Designer Brands, likely due in part to Nike’s continuing struggle to reduce its inventory. Unfortunately, neither deal will have any effect on fourth-quarter results. Two things to watch for: sales in China, which are expected to improve, and guidance for the 2024 fiscal year.
Of 37 brokerages covering Nike, 24 rate the shares at Buy or Strong Buy. Eleven more have a Hold rating. At a price of around $113.60 a share, the upside potential based on a median price target of $135.00 is about 18.8%. At the high price target of $160.00, the implied upside is 40.8%.
For the company’s fourth quarter of fiscal 2023, revenue is expected to come in at $12.59 billion, up 1.6% sequentially and 2.9% higher year over year. Adjusted EPS are forecast at $0.67, down 15.4% sequentially and by 33.3% year over year. For the full fiscal year ending next May, estimates call for EPS of $3.90, up 20.7%, on sales of $54.25 billion, up about 6.5%.
Nike stock trades at 35.2 times expected 2023 EPS, 29.1 times estimated 2024 earnings of $3.90 and 24.7 times estimated 2025 earnings of $4.61 per share. The 52-week range is $82.22 to $131.31. Nike pays an annual dividend of $1.36 (yield of 1.22%). Total shareholder return for the past year was 4.06%.
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Nike's 2024 pressured by weak North American demand, inventory glut
By: Investing.com | June 28, 2023
(Reuters) - Nike (NYSE:NKE) is expected to forecast full-year profit below Wall Street estimates, as demand for the sportswear giant's products from wholesalers such as Foot Locker (NYSE:FL) and Hibbett wanes in the United States due to still-high inflation.
At least seven analysts trimmed their fiscal 2024 expectations for Nike's earnings per share since the beginning of June and 10 slashed their price targets on the company's stock, ahead of its fourth-quarter results.
"Coming into this current calendar year ... wholesale orders are weak at the moment," said Morningstar analyst David Swartz, adding that declines in these orders will have a negative impact on Nike.
There have been heavier markdowns within sneakers in the United States, said Jane Hali & Associates senior analyst Jessica Ramirez, adding the U.S. market has been difficult and is quite volatile at the moment.
THE CONTEXT
In March, Nike warned of earnings pressure amid its attempts to get rid of excess inventory through heavy discounts. It still reaped the benefits of rival Adidas (OTC:ADDYY)' disastrous breakup with the musician formerly known as Kanye West last quarter as well as demand for Jordan Retro and LeBron 20.
Sales to wholesale customers, which made up nearly 58% of total Nike Brand revenues in fiscal 2022, have been on the decline as retailers cut back on orders and become more prudent due to a drop in discretionary spending among shoppers.
In May, retailer Foot Locker, which has touted its 'renewed' relationship with Nike, also flagged declining sales, particularly for fashion-oriented sneakers.
Barclays (LON:BARC) analysts noted Nike could see "moderation, and potentially negative, wholesale channel growth" in the fourth quarter.
Still, analysts expect a stronger rebound in China to offset the hit to sales from cooling consumer appetite for higher margin products in the North American region and help retain its top spot as the world's leading sportswear brand.
THE FUNDAMENTALS
** Nike will report fourth-quarter earnings on June 29 after markets close
** Nike is expected to report fourth-quarter revenue of $12.59 billion, a 2.9% rise from a year earlier, according to analysts polled by Refinitiv
** Fourth-quarter profit per share is expected to be 67 cents
** Analysts expect Nike's fiscal 2024 revenue to rise 6.4% to $54.23 billion and earnings per share to be $3.91
WALL STREET SENTIMENT
** Nike shares have risen nearly 3% in the last 12 months
** The average rating of 38 analysts on Nike stock is "buy", with 24 rating it "buy" or higher - Refinitiv
** The median price target is $135
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Today Nike Inc. (NKE) is the best performer in the DJIA
By: Thom Hartle | June 27, 2023
• Today (8:35 CST), the best performer in the DJIA is NIKE Inc ClsB. NKE
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Nike shares positioned well for 'pop higher' - Oppenheimer
By: Investing.com | June 27, 2023
Oppenheimer analysts said Tuesday that Nike (NYSE:NKE) shares are poised to bounce following its fourth quarter results, expected Thursday, June 29.
The analysts currently have an Outperform rating on the stock, which is down over 5.74% so far in 2023.
"We are optimistic that a combination of now downbeat investor sentiment and prospects for still solid underlying trends should position shares well for potential 'pop-higher' near term, all the while helping to create a stronger foundation for continued gains over the next several months," they wrote.
"Our Q4 (May) EPS forecast of $0.62 conservatively compares with a Street figure of $0.68 and is predicated upon estimated, reported total company sales growth of flat-to-+2%, consistent with guidance."
Oppenheimer believes that recent management commentary suggests that "in FY23 (May 2023), NKE expects to experience 600bps of FX headwinds."
"Per our math, Q4 (May) reported total company sales growth is likely to be impacted by 200-400bps of FX headwinds," the analysts continued. "For FY24 (May 2024), we look for EPS growth of 18% to $3.76 (vs. Street $3.91E), upon reported total company sales growth of 7-9%, at the lower end of long-term guidance for high-single-digit to low-double-digit growth, on average."
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Today Nike Inc. (NKE) is the best performer in the DJIA
By: Thom Hartle | June 26, 2023
• Today (8:33 CST), the best performer in the DJIA is NIKE Inc ClsB. NKE
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Nike (NKE) Price Target Lowered to $126.00 at Deutsche Bank Aktiengesellschaft
By: MarketBeat | June 23, 2023
• NIKE (NYSE:NKE) had its target price cut by analysts at Deutsche Bank Aktiengesellschaft from $133.00 to $126.00 in a report released on Friday, The Fly reports. Deutsche Bank Aktiengesellschaft's price target would suggest a potential upside of 15.50% from the stock's previous close...
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Barclays sees potential risk to Nike (NKE) FY24 guidance
By: Investing.com | June 23, 2023
Ahead of Nike's (NYSE:NKE) next earnings release, Barclays analysts lowered the firm's price target on the stock to $127 from $154, maintaining an Overweight rating.
The analysts told investors in a note that they see a potential risk to FY24 guidance due to North America Wholesale, offset by DTC and China reopening.
They feel the strength and quality of the China recovery are the main questions for longer-term investors and that the wholesale risk is "well understood."
"We expect a roughly inline quarter with freight and accretive China growth as margin drivers," they wrote. "We believe FY4Q23 sales could be largely inline with consensus, with potential NA wholesale pressure offset by China reopening upside. We could see slight EPS upside on margin drivers, such as freight, accretive China segment contribution, and lower demand creation and operating expenses."
"For FY4Q23, we are now forecasting revenue of $12.64bn versus consensus of $12.57bn, consisting of North America (Barclays +1.2% vs. Bloomberg cons. +3.5% y/y) and Greater China (Barclays +6.8% and +12.9% constant currency vs. Bloomberg cons. +4.6% y/y and +9.6% constant currency). By product category, we expect, once again, footwear to outperform apparel on with both positive units and average selling price (ASP)," the analysts added.
Nike shares are down around 1% on Friday, trading below the $109.50 mark.
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Today Nike Inc. (NKE) is the best performer in the DJIA
By: Thom Hartle | June 22, 2023
• Today (8:33 CST), the best performer in the DJIA is NIKE Inc ClsB. NKE
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Nike shares slide as Morgan Stanley highlights potential inventory challenges
By: Investing.com | June 20, 2023
Nike (NYSE:NKE) shares are down more than 2% premarket on the back of a note from Morgan Stanley that stated near-term inventory challenges could see the sportswear giant's 2024 guide potentially below consensus expectations.
Analysts, who have an Overweight rating and $130 price target on Nike heading into its earnings next week, clarified that the company's 4Q EPS likely comes in in line with the Street, if not ahead.
Morgan Stanley is expecting a "mostly in-line 4Q," with a low topline bar, although they note that "inventory challenges could weigh on margins."
"At first glance, NKE appears set up well to beat a low bar guided for 4Q," the analysts wrote. "More specifically, 4Q guidance included 1) a notable q/q topline deceleration (+14% y/y in 3Q to 4Q guided flat to +LSD% y/y implies >1,000 bps decel at the midpoint), which would equate to NKE's lowest y/y & 4Y CAGR growth rate for the year, despite building momentum when exiting the quarter."
"And 2) a ~HSD % 4Q EBIT margin, which would also make for NKE's lowest quarterly margin of the year, & contrasts historical trend, which suggests 4Q EBIT margin could land closer to the +DD % range."
The analysts also noted that recent North American and Europe sportswear channel checks make it clear that "demand for mass sportswear has potentially slowed, leaving a sizable inventory glut across the industry that is currently being promoted away."
As a result, this could pressure Nike's revenue and margins, potentially putting its 4Q EPS below the Street, they said.
However, they believe that "while NKE's 4Q topline & GM are not without risk given macro & industry-dynamics, it seems demand & promotional headwinds could be partially made up for with prudent SG&A expense management."
"Altogether, despite multiple scenario analyses outlining the aforementioned upside & downside risks, it appears the Street's 67c 4Q EPS forecast is fair for now, & we model 68c," the analysts concluded.
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Victory Capital Management Inc. Has $86.22 Million Stock Holdings in NIKE, Inc. (NKE)
By: MarketBeat | June 16, 2023
• Victory Capital Management Inc. decreased its stake in NIKE, Inc. (NYSE:NKE) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 736,886 shares of the footwear maker's stock after selling 29,672 shares during the quarter. Victory Capital Management Inc.'s holdings in NIKE were worth $86,223,000 as of its most recent filing with the Securities and Exchange Commission...
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NIKE (NKE) Price Target Cut to $138.00 by Analysts at Royal Bank of Canada
By: MarketBeat | June 15, 2023
• NIKE (NYSE:NKE) had its price objective cut by Royal Bank of Canada from $145.00 to $138.00 in a research note issued on Thursday, The Fly reports. Royal Bank of Canada's target price points to a potential upside of 22.28% from the company's previous close...
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nice jump today- UP 3.4%
Today Nike Inc. (NKE) is the best performer in the DJIA
By: Thom Hartle | June 14, 2023
• Today (8:35 CST), the best performer in the $DJIA is NIKE Inc ClsB.
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$NKE **SIZE** ~ 1.98 Million shares at $106.20 #darkpool prints
By: FLOWrensics | June 8, 2023
• $NKE **SIZE** #darkpool prints ~ 1.98 mil shares at $106.20.
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wait for the price drop-its coming:
Nike is now coming for your children, just like Target.
— Wall Street Silver (@WallStreetSilv) June 8, 2023
🤨 pic.twitter.com/X7o6OQD1oZ
its had a huge pullback-- recovery time!
Today Nike Inc. (NKE) is the best performer in the DJIA
By: Thom Hartle | June 2, 2023
• Today (8:34 CST), the best performer in the $DJIA is NIKE Inc ClsB. $NKE.
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Nike, Inc. (NYSE:NKE) Shares Purchased by Kavar Capital Partners Group LLC
By: MarketBeat | May 27, 2023
• Kavar Capital Partners Group LLC grew its stake in shares of NIKE, Inc. (NYSE:NKE) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,544 shares of the footwear maker's stock after acquiring an additional 1,130 shares during the period. NIKE comprises about 1.3% of Kavar Capital Partners Group LLC's holdings, making the stock its 23rd biggest position. Kavar Capital Partners Group LLC's holdings in NIKE were worth $5,563,000 at the end of the most recent reporting period...
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Zacks Research Comments on NIKE, Inc.'s FY2023 Earnings (NKE)
By: MarketBeat | May 24, 2023
• NIKE, Inc. (NYSE:NKE) - Equities research analysts at Zacks Research lifted their FY2023 EPS estimates for NIKE in a research note issued to investors on Monday, May 22nd. Zacks Research analyst R. Lohia now forecasts that the footwear maker will post earnings of $3.17 per share for the year, up from their prior estimate of $3.16. The consensus estimate for NIKE's current full-year earnings is $3.24 per share. Zacks Research also issued estimates for NIKE's Q2 2024 earnings at $0.94 EPS, Q3 2024 earnings at $0.83 EPS, FY2024 earnings at $3.37 EPS, Q1 2025 earnings at $1.20 EPS and Q3 2025 earnings at $1.00 EPS.
Other equities analysts have also recently issued reports about the company. OTR Global upgraded NIKE from a "mixed" rating to a "positive" rating in a report on Friday, March 10th. Credit Suisse Group boosted their price target on shares of NIKE from $132.00 to $139.00 and gave the company an "outperform" rating in a research note on Wednesday, March 22nd. Stifel Nicolaus upped their price objective on shares of NIKE from $132.00 to $143.00 and gave the stock a "buy" rating in a report on Wednesday, March 22nd. Redburn Partners initiated coverage on NIKE in a research report on Thursday, March 16th. They issued a "sell" rating and a $100.00 target price on the stock. Finally, Daiwa Capital Markets upped their price target on NIKE from $116.00 to $123.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 28th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $134.33...
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Nike Inc (NKE) Stock Running into Bull Signal
By: Schaeffer's Investment Research | May 18, 2023
• NKE pulled back to a historically bullish trendline on the charts
• Another indicator points to a potential short-term bounce
Nike Inc (NYSE:NKE) stock appears to be bouncing off of familiar support at the $115 level after an extended drop, up 0.5% at $117.51 at last glance. The shares could continue their path higher as well, as they've just run into a trendline with historically bullish implications.
According to Schaeffer's Senior Quantitative Analyst Rocky White, NKE is trading within one standard deviation of its 160-day moving average for the fifth time in the past three years. Nike stock was positive one month later after three out of the four of these signals, averaging a 3.1% return.
It's also worth noting that the security's 14-day relative strength index (RSI) of 30.6 is right on the cusp of "oversold" territory. This is typically indicative of an upcoming bounce in the short term as well.
Now looks like a good time to weigh in on NKE with options, too, per its Schaeffer's Volatility Index (SVI) of 25%, which ranks in the low 58h percentile of its 12-month range. This means options traders are pricing in low volatility expectations at the moment.
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Why Nike (NKE) Stock Could Run Higher
By: Schaeffer's Investment Research | May 5, 2023
• The equity boasts a favorable technical setup
• NKE has several layers of support in place
Blue-chip apparel maker Nike Inc (NYSE:NKE) is forming a bull flag on the charts, after breaking out of lower highs. The shares found support at the year-to-date anchored volume weighted average price (AVWAP) level. Adding to this bullish technical setup, NKE is pushing above an earnings candle with support from its 20-day moving average.
The equity is seasonally bullish heading into summer, yet puts have been building of late. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), Nike stock sports a 10-day put/call volume ratio of 1.06 that shows puts being picked up a faster rate than calls. Further, traders have been targeting bearish bets at the 120-strike, which could become peak put soon, though the 125-strikes were added to on Friday.
Those looking to speculate with options can do so for a bargain right now. NKE's Schaeffer's Volatility Index (SVI) of 24% stands higher than just 4% of readings from the past 12 months, meaning options traders are pricing in extremely low volatility expectations at the moment. Furthermore, the security's Schaeffer's Volatility Scorecard (SVS) sits at a 72 out of 100, implying Nike stock has exceeded option traders' volatility expectations during the past year.
Our recommended call option has a leverage ratio of 7.5, and will double on a 13.2% pop in the underlying equity.
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Trillium Asset Management LLC Sells 3,874 Shares of NIKE, Inc. (NKE)
By: MarketBeat | May 3, 2023
• Trillium Asset Management LLC trimmed its position in NIKE, Inc. (NYSE:NKE) by 1.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 383,430 shares of the footwear maker's stock after selling 3,874 shares during the period. NIKE makes up approximately 1.4% of Trillium Asset Management LLC's portfolio, making the stock its 16th biggest position. Trillium Asset Management LLC's holdings in NIKE were worth $44,864,000 at the end of the most recent reporting period...
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$NKE Nike looks solid for breakout continuation IF bulls can hold above $127
By: TrendSpider | May 2, 2023
• $NKE Nike looks solid for breakout continuation IF bulls can hold above $127.
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Nike Stock: Three Rising Valleys and Running
By: Karl Montevirgen | April 17, 2023
If you plan on running up that hill, a pair of Nikes (NKE) could be the right fit for the task. But now, Nike is tackling a similar scenario, running up a Three Rising Valleys pattern—three consecutive higher lows (more on that later). Does the company have enough momentum to get beyond the current technical hurdle and once again reach its November 2021 peak -- $179.10 per share -- from the prevailing $125 price range? (See chart of NKE below.)
What's the Fundamental Story?
Nike has beaten analyst earnings expectations over the last 12 consecutive quarters. Its last drop, a negative earnings surprise, occurred in its fiscal Q4 2020 quarter—a massive 38% drop (loss of $790 million) during the global Covid-19 lockdown.
It's been recovering since, though sales to its third largest market, China, remain soft. Its last reported earnings report on March 21 was pretty outstanding. Nike did really well in their third fiscal quarter of 2023 compared to what financial experts on Wall Street predicted. Earnings per share and revenue came in higher than analyst estimates.
How's the Road Looking Ahead?
The road to recovery in China still has a few hurdles, but Nike CEO John Donahoe expects things to improve. As for global sales, Nike saw double-digit growth in the US, Latin America, Europe, Africa, Asia-Pacific, and the Middle East.
Also, Nike has really been putting a lot of work into growing their direct-to-consumer sales. They've been pouring money into cool experiential stores, working on their loyalty program, and increasing their e-commerce sales. It's been costly, but sales have accelerated as a result.
Running With the Bulls
On the technical side, Nike formed a Three Rising Valleys formation.
Popularized by technical analyst Thomas Bulkowski, Three Rising Valleys is a bullish chart pattern that signals a potential upward trend in the market. The pattern consists of three consecutive valleys (or troughs) that form within an existing uptrend. Each valley is slightly higher than the previous one, suggesting that buying interest is increasing, and the price is likely to continue rising.
CHART 1: NIKE STOCK'S THREE RISING VALLEYS PATTERN. The stock could move as high as the 100% measured move target, which is around $136 (red dashed line).
Chart source: StockChartsACP. For educational purposes only.
How Do You Trade NKE Stock?
With this pattern, you'd take an altered measured approach (according to the description in Bulkowski's book Encyclopedia of Chart Patterns).
Entry point
• You would enter a long position at [A], a breakout above the top of the formation.
• For early entries, a breakout above the green line at [B] would also work.
Price targets
As far as price targets are concerned, here's how you'd calculate it. Start by subtracting the top of the formation (126.06) from the bottom (115.79), then add the difference (10.27) to the top. The targets will thus vary based on the 100% measure of 136.33 (or just 136 to round off). You can see where that level is on the chart (see red dashed line). Stop losses are usually placed at the bottom of the formation.
Note: Traders' target price preferences will vary anywhere from 60% to 100% of the target.
Looking at other technical indicators to contextualize this formation, the 50-day simple moving average (SMA) crossed the 200-day SMA a few months back, forming a Golden Cross. We also see the Moving Average Convergence/Divergence (MACD) looking favorable, with the MACD line having crossed above the signal line, and both crossing above the zero line.
But there's also a drop in volume. Price has pulled back, but volume has also dwindled. If price breaks above the formation, look at volume to assess Nike's momentum.
This pattern generally has a low failure rate (instances where it doesn't yield a rally of a specific magnitude, such as five or 10 percent). However, there are occasions when the pattern doesn't generate the anticipated rally. So it may be worth incorporating other indicators to confirm the upward move before entering the trade.
The Bottom Line
So overall, Nike's stock is showing some favorable prospects, beating earnings expectations as it continues to focus on growing its direct-to-consumer sales. While there are challenges in China, Nike's global sales look promising. The Three Rising Valleys pattern suggests a potential upward trend, but keep an eye on volume and other indicators to confirm it. If it runs bullish, monitor its progress and momentum. Remember, trading is about engaging risk; so stay alert and manage your trade as needed.
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Today Nike Inc. (NKE) is the best performer in the DJIA
By: Thom Hartle | April 13, 2023
• Today (8:34 CST), the best performer in the $DJIA is NIKE Inc ClsB.
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$NKE Nike TTM Squeeze breakout - Just Do It?
By: TrendSpider | April 11, 2023
• $NKE Nike TTM Squeeze breakout - Just Do It?
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Nike (NKE) April Win rate: 30% • Average Return: -0.43%
By: TrendSpider | April 8, 2023
• $NKE Nike
Win rate: 30%
Average Return: -0.43%.
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$NKE Nike forming a tight bull flag on the weekly with MACD coiled...This setup looks juicy!
By: TrendSpider | April 8, 2023
• $NKE Nike forming a tight bull flag on the weekly with MACD coiled...
This setup looks juicy!
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NIKE IS NOW A TRANS BRAND OVER 99% OF THE NORMAL MARKET REFUSE TO IDENTIFY WITH!!!!!!!!
NIKE'S SALES ARE ABOUT TO DROP OFF A CLIFF!!!!!!!
SHORT THIS WOKE GARBAGE TO OBLIVION!!!!!!!!!!!
DISGUSTING!!!!!!!!!
IGNORANT MANAGEMENT IS KILLING THEIR OWN COMPANY!!!!!!!
The Goldman Sachs Group Boosts Nike (NKE) Price Target to $148.00
By: MarketBeat | March 22, 2023
• NIKE (NYSE:NKE - Get Rating) had its price target increased by stock analysts at The Goldman Sachs Group from $134.00 to $148.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a "buy" rating on the footwear maker's stock. The Goldman Sachs Group's target price suggests a potential upside of 17.83% from the stock's current price...
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Nike $NKE inventory:
By: The Transcript | March 23, 2023
• $NKE inventory:
Q3 23: +16% to 8.9B
Q2 23: +43% to 9.3B
Q1 23: +44% to 9.7B
Q4 22: +23% to 8.4B
CFO: "2 quarters ago, we took clear & decisive actions...Our top priority was to strategically manage excess inventory...& our Q3 results prove that NIKE is leading the way"
$NKE CFO: "We expect Fiscal ‘23 gross margin to decline approximately 250bpss, at the low end of our previous guidance range. This reflects ongoing and accelerated actions to reduce inventory by year-end elevated freight and logistics expense..."
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Barclays upgrades Nike on improving visibility for gross margin, China recovery
By: Investing.com | March 23, 2023
Barclays analysts upgraded Nike (NYSE:NKE) to Overweight from Equal Weight with the price target raised to $154 per share, up from the prior $110.00.
They took note of a “significant” FQ2 beat, which demonstrated Nike’s “broad-based brand strength in spite of a weakening consumer macro backdrop,” the analysts wrote in an upgrade note.
The key factor behind the upgrade is a “high probability of margin upside.”
“Combining improving freight relief as we enter FY24 with reduced promotional pressure, we believe the visibility on gross margin recapture is significantly improved. Brand strength and a deep pipeline of high heat innovation is driving strong full-price reception to new footwear launches in both the DTC and wholesale channels,” the analysts added.
As far as China is concerned, the analysts highlighted the second consecutive quarter of CC (constant currency) growth.
“Although there remain questions on when Greater China will return to its long-term algorithm of positive low- to mid-teen growth, it seems that a full China reopening could achieve that growth over the next 12 month horizon,” they added.
Nike shares trade about 1.5% higher Thursday. The stock is up 2.1% year-to-date (YTD).
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NIKE, Inc. (NYSE:NKE) today reported fiscal 2023 financial results for its third quarter ended February 28, 2023.
Third quarter reported revenues were $12.4 billion, up 14 percent compared to the prior year and up 19 percent on a currency-neutral basis*
NIKE Direct sales were $5.3 billion, up 17 percent on a reported basis and up 22 percent on a currency-neutral basis
NIKE Brand Digital sales increased 20 percent on a reported basis, or 24 percent on a currency-neutral basis
Wholesale revenues grew 12 percent on a reported basis and 18 percent on a currency-neutral basis
Gross margin decreased 330 basis points to 43.3 percent
Diluted earnings per share for the quarter was $0.79, down 9 percent
expected a pullback today-- after yesterday HUGE gain
Telsey Advisory Group Equities Analysts Raise Earnings Estimates for NIKE, Inc. (NKE)
By: MarketBeat | March 20, 2023
• NIKE, Inc. (NYSE:NKE) - Analysts at Telsey Advisory Group lifted their FY2023 EPS estimates for shares of NIKE in a report released on Friday, March 17th. Telsey Advisory Group analyst C. Fernandez now expects that the footwear maker will post earnings per share of $3.11 for the year, up from their prior estimate of $2.98. Telsey Advisory Group currently has a "Outperform" rating and a $138.00 target price on the stock. The consensus estimate for NIKE's current full-year earnings is $3.15 per share. Telsey Advisory Group also issued estimates for NIKE's Q4 2023 earnings at $0.80 EPS, Q2 2024 earnings at $1.10 EPS, Q4 2024 earnings at $1.01 EPS and FY2024 earnings at $3.95 EPS...
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