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NKE in an Uptrend, but OBV Shows Negative DivergenceD isclaimer: This analysis is for educational purposes and does not constitute a buy or sell recommendation. The goal is to share a technical perspective based on classic technical analysis concepts for traders and investors. Always make investment decisions with caution, taking into account your own analysis and risk tolerance. I’ve noticed that NYSE:NKE is in an early-stage uptrend, and according to John Murphy in the first chapter of his book Technical Analysis of the Financial Markets (page 4): "It is assumed that a trend in motion is more likely to continue than to reverse." However, I’ve also observed a negative divergence between the price action and the OBV (On-Balance Volume). As Martin Pring describes in his classic Technical Analysis Explained, Volume II: Volume Indicators (page 555): "OBV, therefore, offers a rough approximation for buying and selling pressure and has become a very popular indicator." In NKE’s weekly price chart, we’ve seen a higher high compared to the previous top, but the OBV has not confirmed this movement, which could be a warning sign. Given this divergence, t he strength and continuation of this uptrend come into question. If buying pressure is not sustaining the current price movement, it could signal trend fatigue or a possible short-term correction. Will the uptrend continue, or does this OBV divergence suggest a potential reversal or weakening of the trend? The question remains whether buying strength will be enough to sustain this rally in the coming weeks. What do you think? Does the OBV divergence make you concerned about NKE’s uptrend? Share your thoughts in the comments, and let’s discuss the possible scenarios!
NYSE:NKE
by LuccasChartRoom
1
The Price of Nike (NKE) Shares Surged by More Than 6%The Price of Nike (NKE) Shares Surged by More Than 6% Investors in Nike (NKE) can hardly call 2024 a successful year: → while the S&P 500 index (US SPX 500 mini on FXOpen) has risen by over 20% since the beginning of the year and is hovering near historic highs, → the price of NKE shares has dropped by about 20% in 2024 and is now more than twice as low as its all-time high reached in 2021. Nike’s shares have been in a downward trend for several months, driven by increasing competition, as confirmed by the latest quarterly report, which showed that sales remained flat, and the company forecasts a potential 10% decline in quarterly sales. As CNN reports, many investors had been calling for changes at Nike. Thus, they welcomed the news of a leadership change – it was announced last week that the current CEO, John Donahoe, will retire next month and will be replaced by former Nike executive Elliott Hill – which led to a rise in the company’s shares by over 6% in a single day. Technical analysis of Nike (NKE) shares today suggests that the bullish momentum may fade due to a cluster of potential resistance lines, including: → the psychological level of $90, which previously acted as support (as indicated by the arrows); → the median line of the red channel, constructed using the linear regression method; → the upper boundary of the bearish gap formed on 28 June. On the other hand, the bulls have their argument: the $77.00 level provided support during the test on 11 September. The significance of this level lies in the fact that it originates from the 28 June candlestick, when, according to NASDAQ data, an abnormally high volume of 130 million shares was traded. It’s possible that professional traders were the buyers, believing the share price of the well-known brand had become attractive. According to TipRanks, Wall Street analysts believe Nike will “Just Do it” and put an end to the months-long bearish trend. Of the 33 analysts surveyed, 15 recommend buying NKE shares, and none advise selling. The average price target for NKE shares is $92 (+7% from the current price) over the next 12 months. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
NYSE:NKE
by FXOpen
2
The Trend Is Your Friend... NYSE:NKE FROM MY PRESPECTIVE!!! Recently it just bounced off of its' sloping support... Heading into earnings Running Uphill... Where does it go from the bounce off its' support? You're right, Uphill Towards Resistance!!! You see the numbers, make an educated decision and don't blame me... I'm just here sharing what I see... Please, tell me, what do you see??? I am comfortable with both 88C expiring 9/27 and 88C expiring 10/4, 3 days after earnings!!!
NYSE:NKELong
by FliCityOptions
$NKE Keep an eye for nowNYSE:NKE Nike looks interesting. It is on the verge of breaking out. However, it still needs follow-through for a couple of trading sessions to confirm. One thing to note is that the RSI is close to an overbought condition, so there is a chance that it might close that gap. The fact that they replaced the CEO close to earnings indicates that the earnings report might not meet expectations. For that reason, I am not inclined to take a position until it moves deeper into the buy area. Just keeping an eye for now.👀
NYSE:NKE
by PaperBozz
2
Elliott Hill Appointed as New CEO of Nike: Stock up 8% Nike Inc., (NYSE: NYSE:NKE ) the global sports apparel giant, has made a pivotal decision in naming Elliott Hill as its new President and CEO, effective October 14, 2024. The announcement comes at a time when Nike (NYSE: NYSE:NKE ) is navigating market headwinds, including stiff competition and a necessary internal restructuring. Hill, who has been a Nike insider for over three decades, is expected to leverage his deep-rooted connection with the company to reignite its growth trajectory. A Return to Nike’s Roots: Elliott Hill’s Journey Elliott Hill’s appointment brings Nike (NYSE: NYSE:NKE ) back to its roots. Hill first joined the company in 1988 after lobbying relentlessly for a position out of Ohio University. Over the years, he worked his way up from grassroots sales roles to overseeing global retail operations. His previous position as President of Consumer & Marketplace, where he managed Nike's commercial and marketing efforts, gave him invaluable experience in driving the brand's consumer engagement and business development. After retiring in 2020, Hill’s return is seen as a strategic move to realign Nike’s leadership with someone who not only understands the brand but also embodies its core values of grit, determination, and hard work. According to Mark Parker, Nike’s Executive Chairman, Hill’s deep understanding of the sports industry and his "passion for sport, our brands, and products" make him the ideal person to steer Nike through its next phase of growth. Facing Market Challenges Head-On Hill’s appointment couldn’t come at a more crucial time. Nike (NYSE: NYSE:NKE ) has seen declining sales recently, especially in comparison to more agile competitors like On and Deckers' Hoka. To combat this, Nike initiated a comprehensive three-year plan to slash $2 billion in costs and streamline operations, a plan that will be critical in restoring profitability and market share. Despite recent struggles, Nike has demonstrated strong financial performance, reporting a 12% increase in net income for fiscal year 2024, reaching $5.70 billion. This is up from $5.07 billion in the previous fiscal year, signaling that the company’s fundamentals remain sound. Hill’s leadership will be key in converting these strengths into sustained growth by harnessing innovation and streamlining the company’s operations. ### Technical Outlook: Can Nike Break Its Falling Trend? From a technical standpoint, Nike’s stock has been in a downtrend for several months, with two notable unfilled gap-down patterns. However, in the wake of Hill’s appointment, Nike shares saw an 8% surge in premarket trading on Friday. This rally is integral to breaking the stock’s long-standing downward channel. If Nike (NYSE: NYSE:NKE ) can surpass the key resistance level of $123—its December 2023 high—it could signal a major bullish reversal for the stock. The Relative Strength Index (RSI) currently sits in neutral territory, indicating that Nike (NYSE: NYSE:NKE ) has more room to rally. Additionally, the moving averages are beginning to flatten, suggesting that the stock may be poised to reverse its downward trend if bullish momentum continues. If Nike (NYSE: NYSE:NKE ) can build on this recent uptick, it may start filling the gap-down patterns that have held the stock back, potentially leading to a stronger position in the coming months. Hill’s Vision for the Future Elliott Hill has already expressed his excitement about taking the reins at Nike. "Nike has always been a core part of who I am, and I’m ready to help lead it to an even brighter future," he said. With his extensive experience in both the company and the sports industry, Hill’s vision is likely to focus on innovation, sustainability, and continuing to push the brand to connect with athletes and consumers alike. In addition to driving Nike’s bottom line, Hill’s leadership style is expected to foster closer ties with employees and partners, which will be crucial as the company seeks to retain its position as the world’s premier sportswear brand. His background—rooted in values of perseverance, hard work, and a deep understanding of Nike’s culture—makes him well-positioned to lead the company through its current challenges and beyond. Conclusion Nike’s decision to bring Elliott Hill back as CEO marks a return to its roots and a clear focus on driving operational efficiency and growth in a competitive market. The technical indicators suggest that the stock is approaching a potential breakout, which, combined with Hill’s leadership, could pave the way for a new chapter of success. While challenges remain, Nike’s solid fundamentals, coupled with strategic leadership, position it well for long-term growth and market recovery. Investors will be watching closely as the company embarks on this new journey under Hill’s stewardship.
NYSE:NKELong
by DEXWireNews
NIKE to "Just Do It" to 2023 Highs? Multi Timeframe AnalysisDISCLAIMER: This is not trading advice. This is for educational and entertainment purposes only to demonstrate how I view this market. Trading involves real risk. Do your own due diligence. Based on my multi-timeframe analysis strategy, I have been looking for setups to go long Nike. Seems like daunting proposition considering Nike's overall weakness this year. That being said, my strategy has rules and my job is to respect the rules. HTF (12 Month): 2023 candle close formed a "Swing Low", which gave me the bullish bias for Nike to trade up to 2023 highs. ITF (2 Week): We see the intermediate timeframe is in a bullish price delivery mode (highs of down close candles are getting closed above). We mark of discount arrays (in this case the fair value gap and 2 week orderblock), and wait for price to trade into that point of interest. ETF (12 Hour): We see price traded down into the 2 week fair value gap. As price is in the area of interest, I take any one of the following entry triggers: 12 Hour CISD (Triggered yesterday, stop below the low) 18 Period MA Entry (Not yet triggered. Stop 120% of 3 period ATR at time of entry) 10h8c MAC w/ Williams Acc/Dis (Not yet triggered. Stop either twice the width of the MAC or 120% of 3 period ATR, whichever is greater) Divergence (Not yet triggered. Stop 120% of 3 period ATR at time of entry). If you have questions about my multi-timeframe analysis approach, feel free to shoot me a message. Good Luck & Good Trading.
NYSE:NKELong
by Tradius_Trades
TIME TO BUY NIKE ?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 stock has become a compelling proposition for investors, corroborated by the recommendations of Wall Street analysts. Guggenheim analysts have identified the stock's potential value at $115 per share, indicating a potential 36.9% upside from current levels. HSBC has initiated coverage of On Holding, maintaining a "hold" rating, while Citi continues to uphold a buy rating on Nike stock despite concerns about sales in China. Institutional investors responded to the decline by purchasing Nike shares, catalyzed by the announcement of hedge fund Pershing Square, under the leadership of Bill Ackman, acquiring a new stake in the company. This move was further supported by Pershing Square Capital Management, led by billionaire investor William Ackman, acquiring approximately 3 million Nike shares. Bernstein SocGen Group maintained an "Outperform" rating on Nike, citing improvements in the brand's performance metrics. Anticipated growth in sales driven by the Olympics and basketball is expected to provide an additional boost to Nike. We await the forthcoming fiscal Q3 '24 earnings report from Nike, scheduled for September 24, 2024, as an indicator of potential recovery. In conclusion, it is advisable to closely monitor the upcoming quarterly results.
NYSE:NKE
by Kartik_Elkunchwar
NKE Share Buy PointIf you're interested in accumulating longterm shares in a company that you support consistently, place Nike on your watch. Even if its just for LEAPS. Technicals: It has retraced over 50% of its overall price, returning back to 2020 lows. It is currently displaying a buy combo on the monthly, 3 month, and 6 month charts, in confluence with a very strong demand area, longterm trendline, and 200ma. Note that Price has previously bounced a total of 3 times at this area, this is the 4th touch. RSI and STOCH are both oversold and there are also signs of divergence. Fundamentals: Price to Earnings and Price to earnings ratios have been falling consistently since 2020. Over the past year, their net margins have increased. Revenue and Earnings are expected to fall over the next year to quarter. Since 2019, Nike has steadily increased its free cash flow while steadily decreasing its total debt. Also note that Nike Dividend yield has increase YoY since 2020 indicating healthy growth if they're willing to pay more in Dividends (which is another incentive to invest for the longterm. Lastly, Using the capital asset pricing model to calculate a fair value of the company, Nike's fair values are as follows (hinting at undervalued) 1yr projection = $208.73 with 61.3% margin of safety 3yr projection = $183.48 with 55.9% margin of safety 5yr projection = $161.29 with 49.9% margin of safety
NYSE:NKELong
by Stockstradamus_
NKE continues to show some strengthThis is a update to my previous NKE post (I know I can update that post but I wanted to add a more current photo. I have added MACD to my to try and get a better feel for buying and selling pressure, and also using Channel lines, which have been quite helpful. In this example, NKE was trading between $71-$76 until a spike above $76 into the low $80's with no news. I'll be honest I was using my trading strategy and used PUTS at $76 and got burned but I still think NKE has a lot to be desired. I'm always up for a small lesson from the market =)
NYSE:NKELong
by pcseiden
finally i bought me some nikei didnt buy nike because their price didnt fit my longest term trendline. to me they were too high and i avoided this correction besides the 81 usd pivot point back at 2023 which i didnt see any profits from the continuation of our downtrend. but this finally hit my trendline and hopefully the bottom is in. in order for me to continue my investment i would like to see a reversal like i drew on the chart, this will prove to be an inverse head and shoulders type of thing this pivot point that we are currently touching can prove as resistance to some extent or a continuation of the downtrend in which case i will probably buy on the next pivot point in confluence of this long term trend. nike had a tough year and everything is possible. for me they can provide an oprotunity, enough they hit their last ATH and we have ourselves a 137% profits. if it continues we can achive a new ath with better profits. i would be wary to invest all my money in them like i would with any company but investing some of my money there can provide a decent yield at one point in time. to me even if i make 25% avg every year in 5 years thats a great investment. so i dont even stress. if its more and faster idm getting that money. this is not an advice and im far from a proffesional
NYSE:NKELong
by Captainobvious5454
NIKE | JUST BUY ITNike topped Wall Street estimates for first quarter profit on Thursday as higher prices of its sneakers and apparel helped offset a hit from waning demand and persistent cost pressures, sending its shares up about 8% in extended trading. Nike (NKE) is the largest apparel company in the world, with leading positions across different categories and regions. The company is currently facing challenges such as elevated inventory levels, inflationary pressure, and slow growth in China. Such issues have resulted in the stock dropping by 19% YTD. Although these headwinds are serious, I believe the company's durable brand, leading position, and high-quality products should allow it to come out stronger on the other end. 'Nike is a brand that is of China and for China' -John Donahoe Like every other apparel and retail company, Nike thought post-pandemic demand would continue, so it increased production, which led to inventory levels hitting an all-time high in Q1-FY22, but as we know, that wasn't the case. Although NKE's inventory level is down from all-time highs, investors are still concerned, especially when inflation is eating into people's pockets and growth in China is slowing. Inflation in North America has come down to 3.7% from its peak in June at 9.1%, but it is still a concern in Europe (6.1% in the EU union). As you can see from the graph below, sales in China have been decreasing for the past two years. There are multiple ways one can explain this: COVID related lockdowns resulted in the shuttering of some stores. Plus, Nike and other apparel companies started facing a backlash in China in 2021 due to the alleged use of forced labor in cotton production. However, if the company is successful at expanding into China, then we can expect a lot of room for growth. Now that I have addressed the problems that are facing Nike, let me explain why I believe the company will overcome them. Nike sponsors the most well-known athletes such as Cristiano Ronaldo (+600 million Instagram followers), LeBron James, Michael Jordan, the late Kobe Bryant, Rafael Nadal, Tiger Woods, and more. This has helped the company build a loyal customer base and further boost its brand equity. With a loyal customer base comes pricing power, and as Warrant Buffet said: Nike's pricing power is no joke. Its shoes have reached a level where they are considered luxury, with some selling for more than the $10,000 mark. In 2017, Nike's median price for a shoe regardless of gender was $80, which is $10 more than its biggest competitor, Adidas. I know 2017 was a long time ago, but shoe prices have increased since then, and I believe Nike is still in the lead given their dominant market position. Plus, Nike targets mostly the age demographic of 25 and 34. These are people who have not settled in yet. They just graduated college with extra income to spend on things such as expensive shoes. I believe this pricing power will continue as the company continues to sponsor talented upcoming athletes to build trust with customers. Another way to measure Nike's brand power is by comparing its marketing spending against its peers. Nike's marketing budget in FY 23 was $4 billion, or 7.9% of revenue. On the other hand, Adidas spent 38% and Under Armour 11%. These companies have been allocating more of their revenue towards marketing but have experienced nowhere near the growth Nike has. NKE's association with well-known athletes in the U.S. has allowed them to have a 96% awareness rate, 53% usage rate, and 43% loyalty rate. Going forward, I expect the company's brand will remain high-quality due to sponsorships, high-quality products, and market-leading technology. Founded by Bill Bowerman and Phil Knight in 1994, Nike has come a long way from its first store in Portland, Oregon. As of May 31, 2023, the company had 369 stores within the U.S. and 663 internationally, operating in more than 190 countries. Stores include franchised stores and third-party retailers. The firm owns multiple brands such as Jordan, Converse, and Nike. The company derives sales from four main segments and across four regions. I excluded Converse (4.74% of revenue) from the graphs below because I wanted to focus on the Nike brand. The company's app, NikePlus, has more than 160 million users. On a trailing free cash flow basis, the stock yields over 3.3% relative to its enterprise value. My ~$104 May 24 PT implies a 28.00x P/E and 20.00x EV/EBITDA. Both multiples are below the ten-year NTM average and in line with the median. I project revenue to compound at a rate of 6.47% over the next three years, driven by market growth and new products, while shares decrease at a rate of 2.67%, driven by stock buybacks. The company is forecast to spend $12.1 billion on share repurchases over the same period. Additionally, I believe the company still has room for margin improvement driven by price increases and DTC mix (direct-to-consumer). In FY 2019, DTC sales constituted 31% of revenue, and that figure stood at 44% in FY 2023. Although NKE is trading at a premium compared to peers, I believe it is reasonable considering its scale, high-quality products, and strong brand. The first risk that I would associate with NKE is competition. The company competes with conglomerates such as Addidas, Puma, New Balance, Under Armour, and more. Additionally, e-commerce has made it very easy for anyone to start their own footwear brand. Other key risks to my rating include supply chain distributions, a recessionary environment, and slow growth in China. Finally, we can point out that NKE appears technically oversold heading into the Q1 earnings report. From the chart , there has been relentless selling pressure over the last four months since NKE was trading at $130 per share. The potential that NKE delivers a "good" earnings report with encouraging guidance, brushing aside fears the company is facing a deeper deterioration in its operating environment could be enough for shares to reprice higher. Simply put, our take is that NKE bears have gone too far, opening the door for bulls to take control. The bottom line is that Nike is currently experiencing headwinds such as elevated inventory levels, inflationary pressure, and slow growth in China. Every business goes through similar challenges at one time or another, but I believe Nike is well-positioned to overcome these issues due to its durable brand, high-quality products, and leading position. I expect the company to keep endorsing high-quality athletes to elevate its brand equity and further strengthen its pricing power. My valuation implies a price target of ~$104 for May 31, 2024. If you into NIKE brand you can watch Air film and read Shoe Dog book as well
NYSE:NKELong
by moonypto
20
Hedge Fund Managers Buying, so was IBill Ackman has been loading the boat on Nike. I did advice you guys to also start loading, whilst all the analysts became bearish and the media outlets spout their usual nonsense. This is the second American super brand, after Starbucks, subject to an activist investor seeing value and exerting pressure on the senior management. If you refer to my earlier analysis, you will see that I identified Nike as a buy due to a confluence of support : the Fibonacci golden pocket, along with support of the 0.75 Fibonacci Speedfan, amongst other levels. I don’t intend to hold this for years to come, I suspect nor does Ackman who has previously traded Nike as a swing trade, cashing out a few months lager. My intention is the same here. Whilst this is still not the confirmation of the start of an impulsive move up, and we have only just finished correcting the 5th wave of the grand supercycle, I expect us to rally upwards towards the $90-100 in the weeks to come. I will review the strength of the move later to determine how long I hold this. Not financial advice, do what’s best for you.
NYSE:NKELong
by NoFOMO_
$NKE | Allocation | Market Exec & Buy Limit |Technical Confluences: - Price action is at the 61% Retracement for Recent Lows to Highs and the beginning of Nike's time (Strong Support) - Price action is also at a Demand Zone - Stochastics is at Oversold levels on the Weekly & Monthly TF Fundamental Confluences: - Regardless of weak Earnings and Forward Projections, Nike is still considered as a market leader in various aspects (Fashion, Fitness, Sports, Status etc.); brand loyalty will be retained at least for the next few years - Who doesn't love Nike; aside from Adidas? ________________________________ NYSE:NKE is the next in my basket of portfolio. Allocating the first 20% of single-stock into my Long-Term portfolio. The Nike brand will not die off that easily. Definitely, a value buy; for me. Remember, DYOR. ________________________________ Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated! If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies. If you want something analyzed, do drop me a DM. :D ________________________________ Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks. DYOR.
NYSE:NKELong
by weekendanalyst
Why Nike Might Be a Contrarian Investment Temporary Setbacks: Despite its strong brand and market position, Nike has faced challenges such as supply chain disruptions, increased competition, and economic downturns. These temporary setbacks can lead to a decline in stock price, creating a buying opportunity for contrarian investors who believe in the company's long-term prospects.   Overreaction to Negative News: The market often overreacts to negative news. If Nike faces challenges, its stock price might drop significantly. Contrarian investors might see this as an opportunity to buy a quality stock at a discount, believing that the market's pessimism is overblown. Valuation Discrepancy: Sometimes, Nike's stock price might not fully reflect the company's intrinsic value. A decline in stock price due to market sentiment might create a valuation gap, making it an attractive investment for contrarian investors.   Long-term Growth Potential: Nike has a strong brand, a global presence, and a history of innovation. These factors suggest long-term growth potential, which can make the stock an attractive contrarian investment, especially when the market is pessimistic.  
NYSE:NKELong
by StockBlog