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Apparel, Accessories & Luxury Goods Industry Stocks Technical Analysis - NKEArchive
- 4/5/2024 -
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NIKE Inc. (NKE) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the NIKE Inc. (NKE). During the week, the NKE dropped -5.14 points, or -5.47%, and closed at 88.84 on Friday, April 5, 2024. Weekly volume was 26% above average.
 Long-term trend: [See NKE long-term trend chart]
A long-term downtrend had started on November 5, 2021 at 179.10 and reached 82.22 on October 3, 2022. NKE lost 96.88 points, or 54.09%, in 47 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 92.04 and resistance is at 86.13. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a long-term trend.
 Medium-term trend: [See NKE medium-term trend chart]
A medium-term uptrend had started on September 28, 2023 at 88.66 and reached 123.39 on December 20, 2023. NKE gained -34.73 points, or -39.17%, in 11 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (104.01) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. NKE may retest the broken support line. It is considered to be a resistance line now. 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 medium-term trend.
 Weekly Technical Indicators: [See NKE weekly technical indicators chart]
Weekly Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Lane's Stochastic or strongly oversold weekly Williams' Percentage Range. 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. Use the following link to access a MACD help.
 Short-term trend: [See NKE short-term trend chart]
A short-term downtrend had started on March 14, 2024 at 102.49 and reached 88.80 on April 5, 2024. NKE lost 13.69 points, or 13.36%, in 22 days. Price is near the trend low.
 Daily Technical Indicators: [See NKE daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range and Lane's Stochastic.
The daily MACD line is below its signal line since March 21, 2024. This is an indication that the short-term trend is down.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Consumer Discretionary |
7 |
| Industry |
Apparel, Accessories & Luxury Goods |
15 |
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| Daily Trend |
| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| High |
102.49 |
| High Date |
03/14/2024 |
| Low |
88.80 |
| Low Date |
04/05/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
107.43 |
| High Date |
02/12/2024 |
| Low |
88.80 |
| Low Date |
04/05/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Falling Wedge |
| Status |
Broken Support |
| Resistance |
95.67 |
| Support |
95.36 |
| High |
123.39 |
| High Date |
12/20/2023 |
| Low |
88.80 |
| Low Date |
04/05/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Symmetric Triangle |
| Status |
Broken Support |
| Resistance |
90.56 |
| Support |
104.01 |
| Low |
88.66 |
| Low Date |
09/28/2023 |
| High |
123.39 |
| High Date |
12/20/2023 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Symmetric Triangle |
| Status |
Valid |
| Resistance |
86.13 |
| Support |
92.04 |
| High |
179.10 |
| High Date |
11/05/2021 |
| Low |
82.22 |
| Low Date |
10/03/2022 |
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