blue-chip

Book Profit on this NYSE-Listed Consumer Discretionary Stock: NIKE, Inc.

Nov 17, 2022 | Team Kalkine

Read Time :5 min

NIKE, Inc.

Company Overview: NIKE, Inc. (NYSE: NKE) is engaged in the designing, marketing, and distributing of athletic footwear, apparel, equipment accessories, and services for sports and fitness activities. The Company's operating segments include North America; Europe, Middle e East & Africa (EMEA); Greater China; and Asia Pacific & Latin America (APLA).

As per our previous report published on NKE on 06th October 2022, Kalkine provided a ‘Buy’ stance on the stock at USD 90.58 based on ‘consistent dividend paying history, higher margin profile, and upside indicated based on Valuation done, and the stock price has now moved by ~16.17% since then and the stock price has now crossed both the Resistance 1 and resistance 2 levels.

Noted below are the details of support and resistance levels provided in our previous report:

NKE’s Daily Chart

(Source: Refinitiv, Analysis done by Kalkine Group)

Considering the resistance, target level achievement, current trading levels, risks associated, and volatile market conditions on the back of rising interest rates, a ‘Sell’ rating is assigned to the “NKE” at the closing market price of USD 105.23 (as of 16 November 2022).

Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 16th November 2022. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’

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