$NKE TOP 20
Added 2024-06-27 22:34:32 +0000 UTC$NKE disappointed with their earnings today and on their forward guidance:
'Nike on Thursday said it no longer expects to report revenue growth for the fiscal year ending in May 2025, and guided for revenue to be down in the mid-single digits. Analysts polled by FactSet anticipate revenue growth of 1.4%, to $52.11 billion.'
We can see that the post earnings AH movement is exactly at the blue line now, which was the low in October '22. So the Bear Case is triggered now and right on the cusp of dropping into the Buy Zone.
Impulse wave can not be valid so the corrective Wave C which has not changed on this chart must be active now.
Olympics is still only a month away but with poor guidance, I would not rush to enter here until support and consolidation is seen first.
Comments
What are we saying at $75? Assume continue to wait for support?
Nick E
2024-06-28 18:42:07 +0000 UTCJoey, I believe this makes sense too....$NKE need to either expand their TAM or improve their image
Gareth Neary
2024-06-28 10:06:42 +0000 UTCCan’t wait for $NKE to acquire $PTON right as corrective Wave C ends (no rumors of this, just gut feeling)
Joey Celona
2024-06-28 10:03:49 +0000 UTC
