Looking weak here and the trend is clear, moving down and comfortably below the 50 and 200 Day MA here.
I like $NKE and their brand but their corrective wave decided to come in early and this did not follow $META and $NFLX higher first.....possibly from the news that their sales in China have deteriorated and market share is being challenged by the growth of companies like $LULU and $ON.
I believe $NKE will have no issues recovering and when this enters the buy zone it is a clear buy for me and I will look forward to this in a few months.
Gareth Neary
2023-09-11 05:01:48 +0000 UTCGilberto Marines
2023-09-11 04:34:53 +0000 UTC