NKE takes the pipe on Friday down -6.61%. In the final minutes of trading, the market makers made sure the ominous -6.66% did not print. NKE lost -5.3% last week. Europe is fining the shoe king and at-leisure sportswear provider and its earnings report was not inspiring. Nike's monthly chart is in full negative divergence across all indicators on the last price peak. There is no more gas in the tank. NKE is making a long-term multi-month, that could easily stretch into a multi-year, top right now.
Price is extended above the moving average lines needing a mean reversion. The RSI and stochastics are overbot agreeable to a LT pullback. It is an ugly chart. Neggie d on a long-term monthly basis is an ugly prognosis. If long, sell it. As Nike's slogan says, "Just do it." That's right, sell it, just do it. There is no future in Nike going forward. Keytone deoes not have a position in NKE right now but will look for short plays in Nike as the year plays out. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
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