Nike, Inc. [NKE] Records 50-Day SMA of $108.01

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Nike, Inc. shares valued at $1,190,000 were sold by Matheson Monique S. on Dec 11. At $119.00 per share, Matheson Monique S. sold 10,000 shares. The insider’s holdings dropped to 44,736 shares worth approximately $4.76 million following the completion of this transaction.

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Also, PARKER MARK G sold 58,091 shares, netting a total of over 5,785,864 in proceeds. Following the sale of shares at $99.60 each, the insider now holds 1,255,600 shares.

Before that, SWAN ROBERT HOLMES had added 13,072 shares to its account. In a trade valued at $1,256,611, the Director bought Nike, Inc. shares for $96.13 each. Upon closing the transaction, the insider’s holdings increased to 13,072 shares, worth approximately $1.91 million.

As published in a research note from HSBC Securities on January 22, 2024, Nike, Inc. [NKE] has been retained to a Hold and the price target has been revised to $116.

Analyzing NKE Stock Performance

During the last five days, there has been a surge of approximately 2.45%. Over the course of the year, Nike, Inc. shares have dropped approximately -2.06%. Shares of the company reached a 52-week high of $107.85 on 01/02/24 and a 52-week low of $99.05 on 02/05/24. A 50-day SMA is recorded $108.01, while a 200-day SMA reached $106.65. Nevertheless, trading volume fell to 5.74 million shares from 6.18 million shares the previous day.

Support And Resistance Levels for Nike, Inc. (NKE)

According to the 24-hour chart, there is a support level at 105.05, which, if violated, would cause prices to drop to 103.78. In the upper region, resistance lies at 107.01. The next price resistance is at 107.70. RSI (Relative Strength Index) is 55.58 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.76, which suggests the price will increase in the coming days. Percent R is at 13.13%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Nike, Inc. subject to short interest?

Stocks of Nike, Inc. saw a sharp rise in short interest on Jan 31, 2024 jumping by 0.84 million shares to 13.8 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2023 was 12.96 million shares. A jump of 6.09% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.54 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.54.

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