Naked Chart Trading: NKE 28 Jun 2024
$Nike(NKE.US$ forecast a surprise drop in fiscal 2025 sales, as its direct-to-consumer strategy falters and the sportswear giant faces stiff competition from newer brands such as On and Hoka, pushing its shares down 12% after hours.
Will there be a chance for NKE to rebound tonight?
$Nike(NKE.US$ Weekly Chart
Long term trend: Major correction after a bull trend
Short term trend: Sideway to lower, price hit its lowest since Oct 2022
Fibo Analysis (Dec 2023 high to Apr 2024 low): Testing 123.6% USD 80 level
Resistance: USD85 (to trigger rebound signal), USD89, USD95
Support: USD80 (close below to trigger more downside), USD75, USD70
Disclaimer
This content is for reference only and does not constitute any investment advice, and past performance is not indicative of future performance. Returns will vary, and all investments carry risks, including loss of principal. Please make your own investment decisions.
This content is for reference only and does not constitute any investment advice, and past performance is not indicative of future performance. Returns will vary, and all investments carry risks, including loss of principal. Please make your own investment decisions.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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