Nike could expect a correction towards the 122 level

AAATrade Team AAATrade

Today’s instrument is the Nike Inc. Class B ‘s company traded in NYSE exchange under the ticker NKE.

Looking at the NKE‘s chart, we see that yesterday surged from around $121.70 to the lastly traded price of around $125.60.

Last night, it announced better-than-expected results which could be the reason of the yesterday’s positive anticipation and it was already priced in, but the margins announced squeezed due to the higher interest rates. Today we could expect a correction towards the level of $121.70-122 before upwardly reacting again.

Author

AAATrade Team

AAATrade

The AAATrade Team has extensive experience in content writing for the financial industry. Stelios Nikolaou is the lead writer of the team, he currently works at AAATrade to provide research and content writing services.

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