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"Never try to catch a falling knife" is a good saying, but in this case it may soon become tempting if the Nike Inc. (NKE) share comes down to around USD 60.00 - 65.00.


[06 July 2024]


Today, StockCharts365.com took a closer look at Nike Inc. (ticker on NYSE: NKE ), which is in a long-term downtrend and has recently fallen sharply again.


What does the technical picture for the share now say about further development going forward?


Read more about this below under today's technical analysis of Nike shares (NKE).


 

First, a little about Nike (ticker on NYSE: NKE )


Nike is the largest athletic footwear and apparel brand in the world. Key categories include basketball, running, and football (soccer).


Footwear generates about two thirds of its sales. Its brands include Nike, Jordan (premium athletic footwear and clothing), and Converse (casual footwear).


Nike sells products worldwide through company-owned stores, franchised stores, and third-party retailers.


The firm also operates e-commerce platforms in more than 40 countries.


Nearly all its production is outsourced to contract manufacturers in more than 30 countries.


Nike was founded in 1964 and is based in Beaverton, Oregon.


For more information about the company, visit their website here:



 

Technical Analysis of Nike (ticker on NYSE: NKE )



Technical Analysis of Nike (ticker on NYSE: NKE ):


Nike (NKE) is in a long-term downward trend, showing a very weak development.


Then we know the saying 'Never try to catch a falling knife', and you can safely say that about the Nike share here now.


According to the long-term falling trend that the share is moving within, a further fall towards around USD 60.00 - 65.00 is indicated.


Preferably within the next 1-3 months.


Naturally, there will occasionally be some rebounds, but the trend indicates that the share will likely fall towards USD 60.00 - 65.00 within 1-3 months.


So well worth keeping an eye on Nike stock going forward, and if it comes down to the bottom of the long-term downtrend, around USD 60.00 - 65.00, then it might be worth trying an investment in the stock around that level.


Yes, Nike is not going bankrupt, so to speak, but the company has had its challenges to contend with in recent years, and down to USD 60.00 - 65.00 the share can be an interesting investment, the undersigned believes.


After all, Nike is the largest athletic footwear and apparel brand in the world. Key categories include basketball, running, and football (soccer). Footwear generates about two thirds of its sales.


 

NB! Remember to have read and understood the disclaimer.

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