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Highways & Railtracks Industry Stocks Technical Analysis - NKE

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- 3/15/2024 -
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NIKE Inc. (NKE) Technical Analysis

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Summary:
Weekly :Broken trend resistance lineWilliams' Percentage Range is oversold
Daily :20 Day Moving Average has crossed below the 50 Day Moving AverageStochastic signal line moved above oversold area
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It was a first positive week for the NIKE Inc. (NKE). During the week, the NKE climbed 0.48 points, or 0.48%, and closed at 99.64 on Friday, March 15, 2024. NKE was trading at average weekly trading volume.

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 downtrend resistance line (91.67) 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 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 trend support level is at 102.36 and resistance is at 96.94. 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 medium-term trend.

Weekly Technical Indicators: [See NKE weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 link to access Williams' Percentage Range help.

The weekly MACD line is below its signal line since January 19, 2024. The distance between MACD and the signal line is low, but getting bigger. 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 February 12, 2024 at 107.43 and reached 97.06 on March 6, 2024. NKE lost 10.37 points, or 9.65%, in 23 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 94.38 and resistance is at 105.10. 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 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 above oversold area. Such crossover is considered a bullish signal. Use the following link to access Lane's Stochastic help.

The daily MACD line is below its signal line since February 29, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 34.07
Williams' Percentage Range (W%R) 66.10
Lane's Stochastic (%D-Slow) 50.57
Greed/Fear Indicator (GFI) 39.51
Moving Average Converg./Diverg. (MACD) -1.09
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 33.50
Williams' Percentage Range (W%R) 87.70
Oversold
Lane's Stochastic (%D-Slow) 25.02
Greed/Fear Indicator (GFI) 24.87
Moving Average Converg./Diverg. (MACD) -0.86
Trading Signals
Description Value Chart
Monthly Trendline Resistance 109.39
Upper Bollinger Band 106.68
Weekly Trendline Resistance 105.10
50 Day Moving Average 102.53
Quarterly Trendline Support 102.36
20 Day Moving Average 101.90
Daily Stochastic Crossing 99.85
Price 99.64
Weekly Stochastic Crossing 99.58
Parabolic System 97.40
Quarterly Trendline Resistance 96.94
Monthly Trendline Support 96.53
Lower Bollinger Band 96.20
Weekly Trendline Support 94.38
Yearly Trendline Support 91.67
Yearly Trendline Resistance 88.28
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 7
Industry Apparel, Accessories & Luxury Goods 30
Daily Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Low 97.06
Low Date 03/06/2024
High 102.49
High Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 105.10
Support 94.38
High 107.43
High Date 02/12/2024
Low 97.06
Low Date 03/06/2024
Description Value
Direction Down
Chart Pattern Broadening Symmetric Wedge
Status Valid
Resistance 109.39
Support 96.53
High 123.39
High Date 12/20/2023
Low 97.06
Low Date 03/06/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Valid
Resistance 96.94
Support 102.36
Low 88.66
Low Date 09/28/2023
High 123.39
High Date 12/20/2023
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 88.28
Support 91.67
High 179.10
High Date 11/05/2021
Low 82.22
Low Date 10/03/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.