Nike Inc (NYSE: NKE) shares are trading lower by $1.40 (2.6 percent) at $50.46 in Tuesday's session. That wipes out Monday's gain of $1.39 and has the issue now flat for the week.
The catalyst for the reversal in price is a downgrade from Cowen, which downgraded the issue from Outperform to Market Perform.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
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27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
Following a lower open, it managed to sneak into the lower-end of Monday's session before peaking at $51.10 and continuing its move lower. It's now attempting to find support ahead of the trio lows from November 30 ($50.07), December 1 ($50.06) and December 2 ($50.10) as the current low stands at $50.28.
If the decline continues through the current low, there may be additional minor support at its November 15 low ($49.75). Its major support comes in at the pair of lows from November 3 ($49.31) and the low for its recent slide at its November 2 low ($49.01).