Nike Stock Forecast
Nike stock price up 1.67% on Wednesday
(Updated on Mar 27, 2024)
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $92.47 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -6.08% during the next 3 months and, with a 90% probability hold a price between $86.84 and $97.45 at the end of this 3-month period.
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NKE Signals & Forecast
There are mixed signals in the stock today. The Nike stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $96.48 and $101.39. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Tuesday, March 26, 2024, and so far it has risen 1.67%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Nike stock
Nike finds support from accumulated volume at $93.86 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.83 between high and low, or 1.98%. For the last week, the stock has had daily average volatility of 2.48%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NKE) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Nike to open at $93.53, and during the day (based on 14 day Average True Range), to move between $91.79 and $96.47, which gives a possible trading interval of +/-$2.34 (+/-2.48%) up or down from last closing price. If Nike takes out the full calculated possible swing range there will be an estimated 4.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $93.86 (0.29%) than the resistance at $100.82 (7.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Nike stock A Buy?
Nike holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.007 Sell Candidate Unchanged
Predicted Opening Price for Nike of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$93.53 ( 0.634%) | $94.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NKE
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 95.36 | 1.31 % | |
R2 | 94.66 | 0.568 % | ||
R1 | 94.23 | 0.109 % | ||
Current price: | 94.13 | |||
Support | S1 | 92.83 | -1.38 % | |
S2 | 92.40 | -1.84 % | ||
S3 | 91.70 | -2.58 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 103.77 | 10.24 % | |
R2 | 103.51 | 9.96 % | ||
R1 | 100.82 | 7.11 % | ||
Current price | 94.13 | |||
Support | S1 | 93.86 | -0.287% | |
S2 | 93.75 | -0.404% | ||
S3 | 92.58 | -1.65% |
NKE Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 08, 2024 | Mar 01, 2024 | Apr 01, 2024 | $0.370 | 0.393% |
2 | Nov 14, 2023 | Dec 01, 2023 | Jan 02, 2024 | $0.370 | 0.347% |
3 | Aug 03, 2023 | Sep 01, 2023 | Oct 02, 2023 | $0.340 | 0.360% |
4 | May 04, 2023 | Jun 02, 2023 | Jul 05, 2023 | $0.340 | 0.317% |
5 | Feb 09, 2023 | Mar 03, 2023 | Apr 03, 2023 | $0.340 | 0.279% |
FAQ
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