NKE 0.00%↑ is digesting another post-earnings plummet. It’s currently above the AVWAP from that gap lower, and I’ve noted 3 recent bottoms (I hesitate to say “triple bottom”).
On a relative basis, NKE 0.00%↑ is hovering near decade plus lows to the SPY 0.00%↑ .
Is this protracted period of underperformance a harbinger of the future of one of the most iconic brands in the world? I don’t know, but I like the long term potential of this setup if it’s not. And three recent and notable bottoms since Sep ‘22 provide areas to risk manage this long idea.