Nike (NKE) : Traders are bullish on Nike (NKE) as it has outperformed the S&P 500 by a wide margin of 3.43% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 4.37%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 4.34% in the last 1 week, and is up 3.83% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
NIKE, Inc. is up 4.59% in the last 3-month period. Year-to-Date the stock performance stands at -5.24%. The stock has recorded a 20-day Moving Average of 5.13% and the 50-Day Moving Average is 5.73%.
Nike (NYSE:NKE): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $57.40 and $57.25 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $59.14. The buying momentum continued till the end and the stock did not give up its gains. It closed at $58.90, notching a gain of 2.95% for the day. The total traded volume was 15,987,096 . The stock had closed at $57.21 on the previous day.
Also, Brokerage firm Credit Suisse maintains its rating on Nike (NYSE:NKE). As per the latest information, the brokerage house lowers the price target to $63 per share from a prior target of $68. The shares have been rated Outperform. The rating by the firm was issued on June 29, 2016.
NIKE, Inc. is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company sells its products to retail accounts, through NIKE-owned retail stores and Internet Websites (which the Company refers to as its Direct to Consumer or DTC operations), and through a mix of independent distributors and licensees throughout the world. The Company focuses its NIKE Brand product offerings in eight key categories: Running, Basketball, Football (Soccer), Mens Training, Womens Training, Action Sports, Sportswear (the Companys sports-inspired lifestyle products) and Golf. The Company also markets products designed for kids, as well as for other athletic and recreational uses, such as cricket, lacrosse, tennis, volleyball, wrestling, walking and outdoor activities. The Companys portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.