Nike: the Sell signal reaches its 22nd week
Nike stock closes flat (0%) as the decline continues with the ADX still climbing
Nike: the Sell signal reaches its 22nd week
Our view last week
Nike's Sell signal has been under management for 21 weeks, with the short more than 26% in the money. After last week's 4.7% drop, Nike stock closed flat this week despite 80% of volume on the sell side and sellers dominating the last bar to an extreme. Money flow has turned negative again and the weekly ADX climbed to 28.6: the trend is gaining conviction even as price, for now, has stalled.
This week's summary
Nike stock closes another flat week, but money flow keeps deteriorating and the weekly ADX climbs to 29.4: the trend is gaining conviction even as price stalls. The Sell signal has been under management for 22 weeks, with the short more than 26% in the money. After last week's 80% of volume on the sell side, sellers ease off a bit this time (66%), yet momentum still craters to -3.8.
IQS Phase
69
in tension
Signal Strength
17
decline starting to make lower lows
Sizing
MINIMUM
Ranking
#35 / 122
US stocks
Trade P&L %
+26.85%
from signal to date, no stop loss
Rank position
ranks 35th among the 122 sell signals for US stocks in our ranking, with a signal strength of 17 out of 100.
Sector context
SectorDefensive Staples
Benchmark ETFXLP
Sector regimein positive regime
Performanceweekly +0.08% · monthly +0.87%
NKE belongs to the defensive staples sector (reference ETF XLP). The sector is classified in positive regime according to our weekly reading.
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