Nike: When Will This Be Investable Again? (Technical Analysis)

Summary:

• We’re monitoring NIKE for a long-term entry setup, anticipating a potential low in the coming months based on price structure and fundamentals.
• Lyn Alden highlights NIKE’s overvaluation and growth issues, needing revenue and earnings stabilization to confirm a fundamental bottom.
• Our methodology provides a dynamically adaptable approach to analyzing market sentiment and projecting likely movements in stocks like NKE.

By Levi at Elliott Wave Trader; Produced with Avi Gilburt

We’re looking for a long-term entry setup for NIKE (NYSE:NKE) (NEOE:NKE:CA). If you have been following our work on this one, you will know that

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in NKE over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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