2024-07-01 11:52:02 ET
Summary
- Nike stock is currently not a compelling buy due to overvaluation and lack of growth potential.
- Our methodology suggests a potential bounce from current levels, but a larger downside move to $60-$62 is then expected.
- Avi Gilburt emphasizes the importance of market context and price projections for making successful decisions in any financial market, including stocks like Nike.
By Levi at Elliott Wave Trader; Produced with Avi Gilburt ...
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For further details see:
Nike: How About Now? Nope - Not Yet And Here's Why (Technical Analysis)