Nike has been a stock we’ve been stalking for a while, and the price action is implying that a low may be in with support ~US$90, however, the catalyst for a bullish move up has been elusive to date.
NKE reports quarterly earnings this time next month, and we’ll be looking for evidence of growth in revenue in the quarter, and guidance for back-half acceleration. If they deliver, we’ll take a more positive view towards this iconic brand – until then, we remain in wait-and-see mode.
MM remains neutral on NKE US, awaiting quarterly earnings
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