Resistance

Reversal

<ul class="list-ic vertical">
 <li><span>1</span> <a>Nike stock price recovered 17% from the recent swing low.</a></li>
 <li><span>2</span> <a>NKE stock price sustains above the 50-day EMA and approaches the 200-day EMA.</a></li>
 <li><span>3</span> <a>The quarterly earnings positively impacted the Nike Inc. stock.</a></li>
</ul>
<p>Nike stock price is in a recovery phase and continuing to rise upward by forming higher high candles.&nbsp;</p>
<p>NKE stock price recovered about 17% from the recent swing low at $88.66 and managed to climb above the 50-day EMA. It shows that the short-term trend has turned upward and bulls are returning back on track.&nbsp;</p>
<p>However, the 200-day EMA still stands above the current price which may act as an immediate hurdle for bulls.&nbsp;</p>
<p>For the last few months, NKE stock price has been in a declining phase and traded with a bearish bias. Recently, a few weeks ago, the quarterly earnings were released due to which the stock price showed a sudden rise and halted the downfall.&nbsp;</p>
<p>Nike Inc. reported an EPS of 0.94 and revenue of $12.939 Billion. The company beat the EPS estimates by 24.37% but missed the revenue estimates by 0.47%.&nbsp;</p>
<p>Luckily, the investors were satisfied with the earnings and the stock price rose 6% on a single day after earnings. It triggered positive sentiments and the stock price began the recovery.&nbsp;</p>
<p>Nike<a href="https://www.thecoinrepublic.com/2023/09/20/nike-stock-nyse-nke-price-loses-momentum-slips-below-100/" rel="noopener noreferrer nofollow"> stock price</a> closed the previous session at $103.05 with an intraday decline of -0.69%.</p>
<h2 class="wp-block-heading" id="strong-will-nike-stock-price-sustain-the-recent-gains-strong"><strong>Will Nike Stock Price Sustain the Recent Gains?</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/9jjIDrpW5-aQU6s16Jqw12luUiszbM7WisTUfmITmuj9dMSBreBXOp7HdpjaHMVihV0mU0oEsxxRnPpbXLA_ZsMdElS3kQSufg19zVyfdsrAxasSFg1Lyj5eH2rQwQLgVShdLn_LM0dpvAstieeuqeI" alt="Nike Stock Price Analysis: V- Shape Recovery in NKE Stock">
  <figcaption class="wp-element-caption">
   NYSE: NKE daily chart by <a href="https://www.tradingview.com/x/OJEWE1Uf/" rel="noopener noreferrer nofollow">TradingView</a>
  </figcaption>
 </figure>
</div>
<p>Nike stock price (NYSE: NKE) regains the $100 level indicating buyers are active. However, the bulls might lose momentum near the supply zone and narrow range consolidation is expected.&nbsp;</p>
<p>Till the <a href="https://www.thecoinrepublic.com/2023/09/20/nike-stock-nyse-nke-price-loses-momentum-slips-below-100/" rel="noopener noreferrer nofollow">NKE stock price</a> sustains above $94.00 the buyers will be active and absorb the selling. The stock picks up momentum when buyers are able to push the price above the 200-day EMA.&nbsp;</p>
<p>The technical analysis suggests that the recent rally is supported by genuine buying and the price is likely to sustain the recent gains.</p>
<h3 class="wp-block-heading" id="strong-nke-stock-price-showed-initial-sign-of-bullish-trend-reversal-strong"><strong>NKE Stock Price Showed Initial Sign of Bullish Trend Reversal</strong></h3> 
<div class="tradingview-widget-container">
 &nbsp;&nbsp; 
 <div id="tradingview_91797"></div> &nbsp;&nbsp; 
 <div class="tradingview-widget-copyright"><a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a>
 </div> &nbsp;&nbsp; 
 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script> &nbsp;&nbsp; 
 <script type="text/javascript">

  new TradingView.widget(

  {

  "width": 950,

  "height": 500,

  "symbol": "NYSE:NKE",

  "interval": "D",

  "timezone": "Etc/UTC",

  "theme": "light",

  "style": "1",

  "locale": "en",

  "enable_publishing": true,

  "allow_symbol_change": true,

  "studies": [

    "STD;RSI",

    "STD;Supertrend"

  ],

  "container_id": "tradingview_91797"

}

  );

  </script>
</div> 
<p>NKE stock price rose for three consecutive weeks and displayed the initial signs of a bullish trend reversal. However, it will be interesting to see whether the buyers are able to give the follow-up momentum or not.&nbsp;</p>
<p>The MACD curve slopes upward and the positive crossover gets wider. It indicates bullish momentum in the Nike shares is likely to continue and more upside is pending. However, the RSI at 67 near the overbought territory indicates short-term retracement is possible.</p>
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4>
<p>Nike stock price is recovering and buyers are trying their best to bring back the confidence of the long-term investors.&nbsp;</p>
<p>The technical analysis suggests that NKE stock price may consolidate for some time in a narrow range before resuming the recovery.&nbsp;</p>
<h5 class="wp-block-heading"><strong>Technical Levels</strong></h5>
<ul>
 <li>Resistance levels: $108.23 and $114.74</li>
 <li>Support levels: $94.00 and $88.86</li>
</ul>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Nike Stock Price Analysis: V- Shape Recovery in NKE Stock

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Thecoinrepublic.com

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