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3 pts

Opinion on  NIKE Inc (NKE)     Sector: Consumer Cyclical  >  Industry: Footwear
Nike (NKE)

May 19, 2007 08:23 AM UTC
Return Risk
-8.73% LOW
Tracked Blogger

Fundamental Analysis  
Via short-termtrading.blogspot.com/:  

A very long trading range for this stock with declining MACD and money flow. An option is to trade a breakout, which should bring a sharp increase in volatility.

Update 09/22:
Via short-termtrading.blogspot.com/:  



NKE reported a 51 percent increase in fiscal first-quarter net income, helped by higher revenue and future orders and favorable currency exchange rates.
Net income was $569.7 million, or $1.12 a share, for the quarter ended Aug. 31, compared with $377.2 million, or 74 cents a share, for the period a year earlier.


The weekly chart displays the long uptrend and the macd divergence printed. Volatility has increased during the past months.


At the daily level, you can see the negative macd divergence. Prices last Friday printed a wide ranging day to the downside. I think this sets an important resistance to the upside. As it often happens when stocks are in a strong trend, at this point we could also expect a lateral move and a trading range with support at $51-52. A breakout of $60 would of course negate this and we could expect a further acceleration to the upside.





This is a tracking account  [?]   SocialPicks is not affiliated with short-termtrading. The POS/NEG sentiment is automatically determined by SocialPicks from this blog post and should not be recognized as a position recommendation by short-termtrading

NKE:  This call was made on 05/19/07 @ $53.6
Rating:   Positive   $53.6 (05/19/07)
Gain/Loss:   -3.06% in 566 days


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