Retail Giant Staring at 3 Levels of Overhead Resistance

The retailer just declared its quarterly cash dividend

facebook X logo linkedin

Nike, Inc. (NYSE:NKE) is one of the world's leading designers, marketers, and distributors of athletic footwear, apparel, equipment, and accessories for a wide variety of sports and fitness activities. NKE also owns Converse, a subsidiary brand focused on athletic lifestyle footwear, apparel, and accessories. At last glance, NKE was seen up 0.9% at $112.23.

On May 5, Nike declared a quarterly cash dividend of $0.305 per share, payable on July 1 to shareholders of record at the close of business on June 6. With this announcement, the athletic wear retailer offers a dividend yield of 1.10% with a forward dividend of $1.22.

Nike stock has dropped 33% in 2022, and just yesterday, May 9, hit a nearly two-year annual low of $110.59. Despite several breakout attempts, overhead resistance has moved in at three marks for NKE, the $140 level, 10-day moving average, and 50-day moving average. This underperformance is far from short-lived, too, with the equity's nine-month deficit standing at -36%.


NKE continues to trade at relatively high forward price-earnings ratio of 25.13. Nike stock also trades at a rich price-sales ratio of 3.95, meaning it is likely that NKE has yet to bottom or fully correct.

In fact, the security looks well overdue for around of downgrades. Heading into today, 17 of the 19 covering brokerage firms still sport "buy" or "strong buy" recommendations on Nike stock.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI