Nike Stock Struggles Ahead Of Q4 Earnings: Can It 'Just Do It' And Overcome Bearish Trend?
Portfolio Pulse from Surbhi Jain
Nike Inc (NYSE:NKE) is set to report its Q4 earnings on Thursday, with Wall Street expecting 7 cents in EPS and $12 billion in revenues. The stock has been under significant selling pressure, trading below key exponential moving averages and down 15.9% over the past year. Despite some bullish indicators like the MACD and Bollinger Bands, the overall technical setup suggests a bearish trend. Analysts maintain a Buy rating with a price target of $100.49, implying a potential upside.
June 26, 2024 | 4:19 pm
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Nike Inc (NYSE:NKE) is facing a bearish trend ahead of its Q4 earnings report, with the stock trading below key exponential moving averages. Despite some bullish indicators, the overall technical setup suggests further selling pressure. Analysts maintain a Buy rating with a price target of $100.49.
The stock is trading below key exponential moving averages, indicating significant selling pressure. Despite some bullish indicators like the MACD and Bollinger Bands, the overall technical setup suggests a bearish trend. Analysts' Buy rating and price target provide some positive outlook but do not outweigh the current bearish signals.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100