Quick Take: NKE Nike
## Technical Analysis of Nike (NKE) Stock Chart
### Trend Analysis
1. **Long-term Trend**: The chart shows a strong upward trend from 2014 until 2021, reaching a peak at 173.32. Since then, the stock has been in a downtrend.
2. **Current Trend**: The stock price is currently below all major moving averages (MA5, MA10, MA20), indicating a bearish trend.
### Moving Averages
- **MA5 (85.62)**, **MA10 (95.06)**, and **MA20 (103.37)**: The stock price is significantly below these levels, reinforcing the bearish trend.
### RSI (Relative Strength Index)
- **RSI(14) at 34.49**: The RSI is below 50, indicating bearish momentum. It is close to the oversold region (below 30), which might suggest a potential reversal or a pause in the downtrend.
### Support and Resistance Levels
1. **Immediate Support**: Around 70.00-72.00, as indicated by historical price action and the current price level.
2. **Next Major Support**: Around 60.00, based on previous significant price levels.
3. **Immediate Resistance**: The moving averages (MA5, MA10, MA20) will act as resistance levels (85.62, 95.06, and 103.37 respectively).
### Volume Analysis
- **Volume Spikes**: Significant volume increases during price declines, indicating strong selling pressure.
### Price Targets
1. **Bullish Scenario**: If the stock price manages to hold above the immediate support around 70.00 and the RSI moves upwards from the oversold region:
- **Short-term Target**: 85.00 (MA5)
- **Medium-term Target**: 95.00 (MA10)
- **Long-term Target**: 103.00 (MA20)
2. **Bearish Scenario**: If the stock breaks below the immediate support around 70.00:
- **Short-term Target**: 65.00
- **Medium-term Target**: 60.00
### Recommendations
- **For Long Positions**: Wait for confirmation of support around 70.00 or a reversal signal (e.g., bullish RSI divergence) before entering.
- **For Short Positions**: Consider shorting if the stock breaks below the immediate support around 70.00 with a target of 65.00 or 60.00.
### Final Note
- **Risk Management**: Set stop-loss orders to manage potential downside risks. For long positions, consider placing stop-loss just below the support level at 70.00. For short positions, place stop-loss above the recent high or a key resistance level.
This analysis is based on the current chart and indicators; always consider market conditions and other fundamental factors before making trading decisions.
### Trend Analysis
1. **Long-term Trend**: The chart shows a strong upward trend from 2014 until 2021, reaching a peak at 173.32. Since then, the stock has been in a downtrend.
2. **Current Trend**: The stock price is currently below all major moving averages (MA5, MA10, MA20), indicating a bearish trend.
### Moving Averages
- **MA5 (85.62)**, **MA10 (95.06)**, and **MA20 (103.37)**: The stock price is significantly below these levels, reinforcing the bearish trend.
### RSI (Relative Strength Index)
- **RSI(14) at 34.49**: The RSI is below 50, indicating bearish momentum. It is close to the oversold region (below 30), which might suggest a potential reversal or a pause in the downtrend.
### Support and Resistance Levels
1. **Immediate Support**: Around 70.00-72.00, as indicated by historical price action and the current price level.
2. **Next Major Support**: Around 60.00, based on previous significant price levels.
3. **Immediate Resistance**: The moving averages (MA5, MA10, MA20) will act as resistance levels (85.62, 95.06, and 103.37 respectively).
### Volume Analysis
- **Volume Spikes**: Significant volume increases during price declines, indicating strong selling pressure.
### Price Targets
1. **Bullish Scenario**: If the stock price manages to hold above the immediate support around 70.00 and the RSI moves upwards from the oversold region:
- **Short-term Target**: 85.00 (MA5)
- **Medium-term Target**: 95.00 (MA10)
- **Long-term Target**: 103.00 (MA20)
2. **Bearish Scenario**: If the stock breaks below the immediate support around 70.00:
- **Short-term Target**: 65.00
- **Medium-term Target**: 60.00
### Recommendations
- **For Long Positions**: Wait for confirmation of support around 70.00 or a reversal signal (e.g., bullish RSI divergence) before entering.
- **For Short Positions**: Consider shorting if the stock breaks below the immediate support around 70.00 with a target of 65.00 or 60.00.
### Final Note
- **Risk Management**: Set stop-loss orders to manage potential downside risks. For long positions, consider placing stop-loss just below the support level at 70.00. For short positions, place stop-loss above the recent high or a key resistance level.
This analysis is based on the current chart and indicators; always consider market conditions and other fundamental factors before making trading decisions.
Disclaimer
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