Nike (NKE) shares have been in a major downtrend this year, but some recovery is likely after the footwear giant reports earnings on Oct. 1, according to Barchart’s options data. Heading into the quarterly print, NKE is trading just below its 20-day moving average (MA), with a decisive break above the $37 level expected to accelerate bullish momentum in the near term.
Versus its year-to-date high, Nike stock is currently down an alarming 85%.
