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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Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.