NKE Archives - FaithMight

There has been an upward movement with the $NKE share price since the last week in 2018. The bulls have gained about 300points since then. $NKE reached an all time high in September 2018 and there was a major resistance at 86.04 level. The current price of $NKE is at 85.07 which might maintain the resistance level 86.04. Just recently, $NKE trainers which looked to have the name Allah have been asked to be recalled. This recall may negatively affect the sales of the trainers.

Ichimoku’s future is yet to show a reversal which indicates that the $NKE bulls are still in the market. RSI also shows an overbought position indicating that a correction lower may begin. Since price is already touching the resistance level, this could give room for the bears to get into the market. Price of $NKE still maintains the upper region of the Bollinger bands. If a bearish movement begins, it could attract about 100points.

Source: Nike Air Max Trainers Allah Sneakers Recall Petition Arabic Offensive.
(Independent.co.uk)

Nike just stunned the world with its latest campaign to celebrate its 30-year anniversary in business:

Because of the controversy that surrounds Colin Kaepernick’s stand for the social justice of Black people in America and his blackballing by the NFL, many have forgotten (or overlooked) Nike’s past bold moves. Just last week, after the French Federation of Tennis instituted a dress code against Serena Williams, Nike dropped this ad campaign:

And anyone remember this bold move with Michael Jordan in the 1980s:

Nike became Nike because it was built on the idea of rebellion. This is the same company that dealt w/ the NBA banning Air Jordans. They made Jordan the face of the company at a time when black men were considered to be a huge risk as pitch men. They aren’t new to this.

— Jemele Hill (@jemelehill) September 4, 2018

So what has all this boldness done for the stock? Well, $NKE hit all-time highs just last week at $83.68. The news about the Kaepernick campaign came on a Sunday before U.S. equity markets were open. So, of course, traders on social media immediately became interested in how $NKE would perform on Monday when the stock market opened. And it did not disappoint.

$NKE opened with a huge gap down when markets opened Monday as Wall Street proved to be racist AF. While price dropped towards the zone given by the Fibonacci retracement levels off the last support level at $75, I’d love to see price move even lower to fill that gap after its latest earnings report.

So if you’re shorting $NKE just because of its latest campaign, you just might be….nevermind. I’ll just say, find a better reason.

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Tag: NKE

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