NKE Re gular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see NIKE, Inc. (NYSE:NKE) is about to trade ex-dividend in the next Tuesaday. !!!!
Price reacted as expected from the mid-term resistance zone outlined in early July, pulling back toward the initial macro support targets at 74–68.
Given the structure of the decline, I consider the move from the July highs to be only the first leg of a broader correction, with potential for a bounce followed by another leg lower, deeper into the macro support zone.
Currently, on the daily chart, price is trading inside the mid-term resistance zone, with an ideal extension target near 83. As long as price stays below 83, I’m expecting a mid-term top to form and a pullback into the 70–72 support zone.
NKE price is acting in line with the main structure outlined since early July. Any pullback to rising EMAs - within the 70–67 mid-term support zone - would be considered healthy consolidation inside the ongoing uptrend.
Higher resistance targets remain in focus in the coming weeks.
NKE Pump up to 100 by EOY and it will be great stock to short. 0.01 above estimate which was already lowered and this stock is up 25% !! Vietnam tariff is still 20% Looks like customers are going to keep this stock longer than their shoes.
NKE Re
