Nike Stock Needs to Hold Key Levels After Earnings

Nike, Inc. (NKE) the iconic retailer of athletic footwear and apparel and component of the Dow Jones Industrial Average is the first to report earnings for its latest quarter. This is for the quarter ended in August, not for the quarter that will end in September. The stock closed Friday, Sept. 21, at $85.55, up a Dow-leading 36.5% year to date after setting its all-time high of $86.04. Nike is also in the bull market territory at 37.8% above its 2018 low of $62.09 set on Feb. 6. The stock is above my semiannual and monthly pivots at $83.79 and $84.75, respectively, which are the key levels to hold heading into earnings.