The Long Investor

$NKE TOP 20

Added 2024-06-30 18:58:25 +0000 UTC

$NKE got all the attention this week due to its disappointing earnings and weak 2025 guidance which I personally did not see a need to mention so far in advance, it leaves current holders in a difficult position and the only option now I believe would be to hold and possibly add to your position when support is found.

Selling at this level now, at $75 does not make sense to me.

We are deep into the Buy Zone now and the price just held short of the last Fib support level at $73 on Friday, losing this level and the Covid low at $60 is a target.

$NKE I believe turns this around, it may take longer than people are comfortable with but they have no doubt been here before and they have the capabilities, the brand and the following to improve on growth and margins.

I will wait for support to be found first, possibly followed by some consolidation until the next earnings report before considering a position here.