Watch These Nike Price Levels After Stock Slides on Full-Year Outlook Withdrawal
Key Takeaways
- Nike shares fell in extended trading Tuesday after the apparel and equipment giant withdrew its full-year outlook and said it plans to postpone its upcoming investor day ahead of the company’s transition to a new CEO later this month.
- The stock has rallied more than 25% from the lower trendline of a falling wedge, though Wednesday’s projected earnings-driven selling threatens to derail the recent bullish price momentum.
- Investors should monitor key lower price levels on Nike’s weekly chart around $85 and $79, while watching important higher price levels near $96 and $104.
Nike (NKE) shares moved sharply lower in extended trading on Tuesday after the apparel and equipment giant withdrew its full-year outlook and said it…
