$NKE TOP 20
Added 2024-12-22 19:08:46 +0000 UTCBad week to report earnings, on the day directly after Weds sell off and bearish comments from Fed Powell.
That being said, it was a double beat and surprised many strong numbers.
New CEO spoke on the earnings call and he was less than enthusiastic in the short term.....which is not a bad tactic from a new CEO, to potentially under promise but over deliver.
There is a higher low in now above and the price is back above the 0.618 Fib to finish the week....so this is promising, flipping the 50 Day MA to support at $78 next will be a big bullish statement
Remember, this is still comfortably in the buy zone and I believe is an excellent long term hold.
Comments
Clearing inventory, when they went away from their retailers and started offering big discounts, that forced retailers to do the same so both companies(Foot locker, Dicks, Macy, etc) and NKE both took hits. I don’t think it’s a big risk. You basically are throwing all the “bad” out around right now. Under sell, over deliver and off they go. My biggest position next to SCHD. Overweight on both and will continue buying in a similar range that Cap has outlined. I might even continue buying until $90 then let it run
Daniel
2024-12-23 02:26:01 +0000 UTCArticle in the WSJ - "Nike takes big risk with Holiday Discount" - 30% discount on most of its footwear at Macy's... priority on clearing company's inventory
niorthey
2024-12-22 20:16:18 +0000 UTC
