3 Trendlines To Watch Ahead Of Nike Earnings

Nike (NKE) stock’s big week is already off to a rough start, after J.P. Morgan Securities trimmed its price target to $146 from $152. The bear note comes ahead of the blue-chip apparel maker’s fiscal fourth-quarter earnings report, due out after the market closes on Thursday, July 29. All eyes will be on the Swoosh, with several intriguing trendlines on the charts in play.

Nike stock has a mixed history of post-earnings reactions lately. Half of the company’s last eight earnings reports have resulted in post-earnings moves to the downside, including a 4.9% drawdown in March and a 7% gap lower one year ago in late June of 2022. Overall, NKE averaged a post-earnings move of 8.4% in the last two years, regardless of direction. For Friday’s trading, the options market is pricing in a slightly larger-than-usual post-earnings move of 9.9%.