NIKE, Inc. Stock Forecast

NIKE, Inc. stock upgraded to Hold/Accumulate.
(Updated on May 20, 2024)

NKE.F Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, April 05, 2024, and so far it has risen 2.14%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The NIKE, Inc. 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 85.16€ and 86.16€. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for NIKE, Inc. stock

NIKE, Inc. finds support from accumulated volume at 83.94€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved 0.660€ between high and low, or 0.782%. For the last week the stock has had daily average volatility of 1.43%

Our recommended stop-loss: 80.78€ (-4.36%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 67 days ago.)

Trading Expectations (NKE.F) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect NIKE, Inc. to open at 84.61€, and during the day (based on 14 day Average True Range), to move between 83.05€ and 85.87€, which gives a possible trading interval of +/-1.41€ (+/-1.67%) up or down from last closing price. If NIKE, Inc. takes out the full calculated possible swing range there will be an estimated 3.34% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 83.94€ (0.62%) than the resistance at 85.05€ (0.70%), 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, Inc. stock A Buy?

NIKE, Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.829 Hold/Accumulate Upgraded

Predicted Opening Price for NIKE, Inc. of Tuesday, May 21, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.