NKE +4.6% Rebound Pressures $60–$61 Resistance
$Nike(NKE)$
NKE Rebounds +4.64%: Strong Volume Thrust Challenges Resistance Near $60-$61
Latest Close Data
Closed at $60.00 (12/25), surging +4.64% (+$2.66). Price remains ~27% below its 52-week high of $82.44.
Core Market Drivers
The significant rebound is primarily driven by strong net daily capital inflow ($300M) and above-average trading volume (36.07M shares, VR=1.53), indicating institutional accumulation.
Market sentiment may be shifting as the stock recovers from recent oversold conditions.
Technical Analysis
Volume surged 53% above average, confirming buying interest.
RSI(6) jumped from 15.9 to 37.9, exiting oversold territory, while RSI(12) rose to 39.1, showing improving momentum.
MACD remains negative (-1.69), indicating the broader downtrend is not yet reversed, though the histogram is less negative, hinting at potential slowing bearish momentum.
Key Price Levels
Primary Support: $57.29 (recent swing low).
Strong Resistance: $65.69 (key technical level from 12/24).
Immediate Pivot: $60.00 (today's close & psychological level). A sustained break above $61 could target the next resistance.
Valuation Perspective
Forward P/E stands at 35.92, above its historical 3-year average of 32.44 and the Apparel industry average (~25), suggesting the stock is not cheap. Current TTM P/E is 30.8.
Analyst Targets
36 analysts have an average price target of $77.39 (+29% upside). Sentiment is bullish with 10 Strong Buy, 14 Buy, 14 Hold, and 2 Underperform ratings.
Weekly Outlook
Expect consolidation between $58-$62 in the near term. A decisive break above $61 with high volume could open a path toward $65. Failure to hold $58 may lead to a retest of the $57 support.
Risk Disclaimer
This analysis is for informational purposes only and not financial advice. Past performance does not guarantee future results. Investing involves risk, including potential loss of principal. Conduct your own research before making any investment decisions.
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