“Brian Shannon on TraderTV Live 9/22/26”
NKE remains in a downtrend blocked by the 20-day MA; a bottom may form near $33 but no signal for sustained upside exists yet.
Now it's Nike. Last weekend or two weeks ago I was at my neighbor's 10- year-old kid's birthday party and this was the talk, people were just asking when Nike was going to turn around ?
So, what is your opinion when looking at a structure like this? Because clearly the trend is very good and there is no reason for short sellers to be afraid. What would be a credible trend change or some kind of bottom for you ?
Every time it has tried to break the 50- period barrier , it has failed miserably. We are so far from the 200- period moving average that all my hair will fall out by the time we get there.
So, what would you say to those who are looking for bottom? Or would you do anything at all with this stock?