Nike Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Nike stock price ended at $93.94 on Thursday, after losing 0.740%.
(Updated on Apr 25, 2024)
The Nike stock price fell by -0.740% on the last day (Thursday, 25th Apr 2024) from $94.64 to $93.94. During the last trading day the stock fluctuated 2.54% from a day low at $92.44 to a day high of $94.79. The price has risen in 5 of the last 10 days and is up by 2.11% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 million shares and in total, 5 million shares were bought and sold for approximately $470.45 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $95.25 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -13.58% during the next 3 months and, with a 90% probability hold a price between $73.86 and $82.32 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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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 $94.56 and $94.92. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Friday, April 05, 2024, and so far it has risen 5.74%. 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).
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 is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.35 (2.54%) between high and low. For the last week, the stock has had daily average volatility of 1.53%.
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 Friday 26th
For the upcoming trading day on Friday, 26th we expect Nike to open at $93.72, and during the day (based on 14 day Average True Range), to move between $92.08 and $95.80, which gives a possible trading interval of +/-$1.86 (+/-1.98%) up or down from last closing price. If Nike takes out the full calculated possible swing range there will be an estimated 3.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $93.98 (0.04%) than the support at $93.86 (0.09%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
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: -1.999 Sell Candidate Unchanged
Predicted Opening Price for Nike of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $93.72 ( 0.231%) | $93.94 |
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 | 96.07 | 2.27 % | |
| R2 | 95.17 | 1.31 % | ||
| R1 | 94.62 | 0.724 % | ||
| Current price: | 93.94 | |||
| Support | S1 | 92.83 | -1.19 % | |
| S2 | 92.27 | -1.78 % | ||
| S3 | 91.37 | -2.73 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 103.51 | 10.19 % | |
| R2 | 100.82 | 7.32 % | ||
| R1 | 93.98 | 0.0426 % | ||
| Current price | 93.94 | |||
| Support | S1 | 93.86 | -0.0852% | |
| S2 | 93.75 | -0.202% | ||
| S3 | 92.00 | -2.07% |
NKE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 08, 2024 | Mar 01, 2024 | Apr 01, 2024 | $0.370 | 0.400% |
| 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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