Nike (nke) And A Surpise Deal With Amazon - A Game Changer?

Discussion in 'Investment Charts' started by longtermbull, Jun 29, 2017.

  1. longtermbull

    longtermbull Administrator Staff Member

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    I think we will see a concerted return to more "traditional" stocks, like Nike, once the ongoing market shake-out has ended. A lot of people have been hit very very hard by the erosion of the crazy tech valuations of recent times. Time to rebalance your portfolio?
     
  2. Buyonthedips

    Buyonthedips Senior Investor

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    I did think the potential for the Amazon deal and a possible return to "bread and butter" industries, after the recent tech share sell-off, would have helped Nike but not looking like a trail blazer at the moment.
     
  3. Chartman

    Chartman Senior Investor

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    Update on graph:-

    This chart is being squeezed so we will likely see a significant move upwards or downwards in the short term. Resistance at $75 and $78 with support at $70 and $68. The recent upward trend suggests that buyers are slowly nibbling away at the sellers and the balance seems to be turning in favour of buyers.
     
  4. Buyonthedips

    Buyonthedips Senior Investor

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    Review: Buy on weakness (price $72.53)

    The graph looks like there is growing downside pressure and the shares could easily fall significantly if they crash through the current support level. In a normal market it might be worth picking some up now but markets are not normal and there is genuine downward pressure.
     
  5. Chartman

    Chartman Senior Investor

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    Looks like there is a little more interest in "traditional" stocks such as Nike. If they can gear up on their name and increase Amazon sales this could turn out to be a strong buying opportunity.
     
  6. longtermbull

    longtermbull Administrator Staff Member

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    The deal with Amazon doesnt seem to be the game changer many had suggested?
     
  7. gowiththeflow

    gowiththeflow Senior Investor

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    Is this a case of margins being under pressure or is it connected with the US/China trade fallout? Either way Nike is under pressure and the Amazon deal does not seem to have made a material difference.
     
  8. Buyonthedips

    Buyonthedips Senior Investor

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    To be fair, the tong-term benefits of the Amazon deal and general trading are now being recognised in the share price. Historically $90 seems to have been a level of strong resistance, will the shares break through this time?
     
  9. longtermbull

    longtermbull Administrator Staff Member

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    Surely this will break through the upside at some point - seems to have been stuck in a range for some time now. Is the Amazon deal working?
     
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