We observed a significant decrease in Nike's price-to-earnings (P/E) ratio from 78.6 to 21, representing a multiyear low between 2020 and the present.
Nike's stock has declined by 60% from its historical peak, prompting observations regarding market irrationality in driving the company's P/E ratio to its lowest level since 2017. Consequently, purchasing Nike...
Market Observations: NKE has decisively broken its previous downtrend, establishing a higher high. This bullish breach was further fueled by a liquidity run targeting sell stops below the recent triple-bottom (equal lows). The strong momentum accompanying this breakout signals a potential buying opportunity.
Trade Strategy: Target a buy entry upon a retracement...