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Apparel, Accessories & Luxury Goods Industry Stocks Technical Analysis - NKEArchive
- 4/26/2024 -
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NIKE Inc. (NKE) Technical Analysis
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| Summary:
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| | It was the negative week for the NIKE Inc. (NKE). During the week, the NKE gave back -0.41 points, or -0.43%, and closed at 94.12 on Friday, April 26, 2024. Weekly volume was -23% below average.
 Long-term trend: [See NKE long-term trend chart]
A long-term downtrend had started on February 2, 2023 at 131.31 and reached 88.66 on September 28, 2023. NKE lost 42.65 points, or 32.48%, in 34 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 60.15 and resistance is at 120.26. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.
 Medium-term trend: [See NKE medium-term trend chart]
A medium-term downtrend had started on December 20, 2023 at 123.39 and reached 88.77 on April 10, 2024. NKE lost 34.62 points, or 28.06%, in 16 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (86.03) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See NKE weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since January 19, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
 Short-term trend: [See NKE short-term trend chart]
A short-term uptrend had started on April 10, 2024 at 88.77 and reached 96.22 on April 19, 2024. NKE gained -7.45 points, or -8.39%, in 9 days. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (96.39) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a short-term trend.
 Daily Technical Indicators: [See NKE daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.
The daily MACD line is above its signal line since April 11, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
The price is close to the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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