NIKE shares have hit another low.
Everyone is negative about this stock, but I think the company will deliver solid growth over the long term—over the next five years or so! Of course, that kind of investment horizon won’t suit everyone. NIKE shares can be considered consumer goods stocks, and during a risk-on period like the current one, demand for this sector tends to fall.
The company has made a lot of marketing mistakes, but recently it brought former employees of premium brands onto the team. So we’ll probably see some luxury touches in its new sneaker and hoodie collections.
The biggest question is: when should you buy?
To avoid sitting on a losing position, wait for demand to return on the chart. It’s not visible yet, but a good sign would be the price moving back above $40. In the meantime, momentum is stronger in crypto, so I’m paying more attention to it and trading there.
#NKE $NKE
Everyone is negative about this stock, but I think the company will deliver solid growth over the long term—over the next five years or so! Of course, that kind of investment horizon won’t suit everyone. NIKE shares can be considered consumer goods stocks, and during a risk-on period like the current one, demand for this sector tends to fall.
The company has made a lot of marketing mistakes, but recently it brought former employees of premium brands onto the team. So we’ll probably see some luxury touches in its new sneaker and hoodie collections.
The biggest question is: when should you buy?
To avoid sitting on a losing position, wait for demand to return on the chart. It’s not visible yet, but a good sign would be the price moving back above $40. In the meantime, momentum is stronger in crypto, so I’m paying more attention to it and trading there.
#NKE $NKE
