Score 7.5 (out of 10): NIKE INC -CL B sets up for +10.3% rally in 2 months

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What’s Going On Here?

NIKE continues to venture into the Metaverse with its purchase of NFT fashion and collectibles start up ‘RTFKT’ – a leading digital apparel player. Rival NFT streetwear project, Crytokickers, signed a first-ever digital shoe deal with former NBA star Wilson Chandler in April.

Why Now?

NIKE INC -CL B has triggered a new price range signal. During similar occasions, NIKE INC -CL B shares had a median return of +10.3%, over the following 2 months – based on 10 historical occasions with 8 of those showing positive returns (80%). This buy signal for NIKE INC -CL B received a high score of 7.5 (out of 10). This insight was generated on 2021-December-13 with last price of 166.84.

What’s This Company About?

NIKE INC -CL B is in the Athletic Footwear business. Based on the last 2 years’ risk/return profile, this asset is seen as Less Risky. ‘Wall Street’ analysts think the stock price will be worth 7.2% more (average). Ticker symbol: NKE US.

What’s My Risk / Reward and Time Horizon?

We found 2 months to be the optimal trade horizon, after testing a number of possible alternatives (accuracy of previous returns). Otherwise consider closing out this trade once the target level of 184.05 (+10.3%) has been reached. Based on NIKE INC -CL B’s recent up and down swings, LongShortBets suggests considering to set a stop loss level for this insight at 157.44 (last price at 166.84), which is equivalent to a -5.6% decline.

Returns during similar periods:

The chart above shows the previous returns (in %) based on similar setups with the most recent ‘insight’ shown under (1), the second most recent ‘insight’ shown under (2), etc. 

Previous episodes:

7.4% (September-2021), 30.7% (June-2021), 6.4% (March-2021), -7.7% (January-2021), 16% (October-2020), 18.3% (June-2020), -15% (January- 2020), 12.9% (October-2019), 10.1% (August-2019), 10.6% (May-2019).

Historical Chart:

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Summary:

NameNIKE INC -CL B
ViewUp
Star (1 to 10)7.5
Target+10.3%
Time2 months
Hit Rate80%

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