Nike, Inc. (symbol ‘NKE’)
Nike, Inc. (symbol ‘NKE’) share price experienced profits in the last quarter and rose about 8%. The company’s earnings report for the fiscal quarter ending November 2023 is expected to be released on Thursday 21st of December, after market close. The consensus EPS is $0.84 against $0.85 of the same quarter last year.
‘The exponential increase in the sport giant share price is also reflected in their financial image. The net revenue of the company has been constantly increasing every quarter for the last 3 consecutive years while their current ratio as of 31/08/2023 was at 287%. This means that the company has the ability to repay their short term liabilities with the current assets at hand indicating that they can overcome any short term turmoil. Total assets outweigh total liabilities at a healthy ratio of around 1.6 : 1’ said Antreas Themistokleous, trading specialist at Exness.
Technical analysis shows that the price has been retesting the resistance of the upper band of the Bollinger bands indicating the fueled up volatility in the market for the share. Both the 20 and 50 day moving averages are trading above the slower 100 day moving average validating the overall bullish momentum in the market while the Stochastic oscillator is in the extreme overbought levels since the beginning of December and has yet to move back to the neutral area. This could mean a short term correction to the downside before continuing the bullish trend.
Nike, Inc. (symbol ‘NKE’) share price experienced profits in the last quarter and rose about 8%. The company’s earnings report for the fiscal quarter ending November 2023 is expected to be released on Thursday 21st of December, after market close. The consensus EPS is $0.84 against $0.85 of the same quarter last year.
‘The exponential increase in the sport giant share price is also reflected in their financial image. The net revenue of the company has been constantly increasing every quarter for the last 3 consecutive years while their current ratio as of 31/08/2023 was at 287%. This means that the company has the ability to repay their short term liabilities with the current assets at hand indicating that they can overcome any short term turmoil. Total assets outweigh total liabilities at a healthy ratio of around 1.6 : 1’ said Antreas Themistokleous, trading specialist at Exness.
Technical analysis shows that the price has been retesting the resistance of the upper band of the Bollinger bands indicating the fueled up volatility in the market for the share. Both the 20 and 50 day moving averages are trading above the slower 100 day moving average validating the overall bullish momentum in the market while the Stochastic oscillator is in the extreme overbought levels since the beginning of December and has yet to move back to the neutral area. This could mean a short term correction to the downside before continuing the bullish trend.