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- 1 Nike Inc. stock closed at $102.36 while observing a gain of 0.64% during the last intraday trading session.
- 2 Nike Inc. stock closed at $102.36 while observing a gain of 0.64% during the last intraday trading session.
- 3 Nike Inc ( NYSE: NKE) stock’s 52-week price range is around $82 – $131.
At press time, Nike’s Stock price was $102.36 with an intraday minor gain of 0.64% trading above the major EMAs, showing positivity on the charts. Moreover, the intraday trading volume of NKE is 6.36 Million higher than the 10-day aggregate volume of 7.217 Million.
NIKE has been increasing its earnings at an average yearly rate of 16.8%, which is higher than the Luxury industry’s average annual earnings growth of 14.9%. According to Simply Wall St., a financial website, the revenues of NIKE have also been rising at an average yearly rate of 6.7%. The company has a return on equity of 36.2% and net margins of 9.9%. NIKE has a shareholder equity of $14.0 Billion and a debt of $8.9 Billion, making its debt-to-equity ratio 63.8%. Its total assets and total liabilities are $37.5 Billion and $23.5 Billion respectively. NIKE’s EBIT is $5.9 Billion, resulting in an interest coverage ratio of -985.8. It has cash and short-term investments of $10.7 Billion.
In the past 12 months, nobody major sold its NKE shareholding in the luxury company. Moreover, Philip Knight, cofounder and chairman, is the top shareholder and owns 17.22% of the company and owns $27.0 Billion worth of shares with a total count of 263,486,966, and the Vanguard Group, Inc. is the second top shareholder and owns 7.05% of the company and owns 11.0 Billion worth of shares with a total count of 107,811,493.
NKE Stock Price Technical Analysis in 1-D (Daily) Timeframe
The price action for Nike Stock showed that during the bulls’ run, the price increased by making streaks of break of structures by higher high swings and low swings. Moreover, to ascend upwards, Fibonacci levels of 78.60%, 50.00%, and 38.20% helped the price to sustain and the price followed trendline support effectively and rose with momentum to $131.
Moreover, observing the charts, the resistance was high at $131 price dropped and formed support around the Fibonacci 23.60% level around the price of $119, and from this level, the price consolidated in a range up to May 15, 2023, on this day the price faced extreme selling pressure which dominated buyers and price fell breaking all Fibo levels in between like 23.60%, 38.20% and even it broke 50.00%. After some consolidation on the 50.00% Fibo level, the price broke the 61.80% Fibo level on August 23rd, 2023.
However, the price has attempted to rebound to $97 around 50.00% and 61.80% Fibo level. Recently, it paid a dividend of $0.34 on September 1st and the earnings report for the next quarter is awaited on September 26th, 2023. which can invite buyers and Nike price might surge as observed in the previous sessions as well that on most of the earnings the stock is bought heavily and price surges to new peaks.
There is a possibility for the price to head toward the next resistance level of $106 and $112 and if boosts it can even skyrocket more.
Conversely, if the price breaks below the $101 major support level, it might decline toward $92.
At the time of publishing, Nike Inc. (NYSE: NKE) is trading below the 20, and 50 Exponential MA’s. RSI is around 42 and taking support on 14 SMA. A tiny bullish crossover is noticed in the MACD Oscillator highlighting some bullish power on the daily time frame over charts.
Summary
Nike Inc. (NYSE: NKE) highlights the bullish sentiments of the investors and traders of the stock on the daily time frame chart. At the time of publishing, the price action highlights a bullish view. The technical oscillators for Nike stock price also support a bullish trend. The RSI, EMA, and MACD highlight neutral to upward signals in Nike stock price.
Technical Levels
- Support levels: The nearest support levels for NKE stock price are $101 and $92.
- Resistance levels: The nearest resistance levels for the Nike stock price are $106 and $112.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
