Chart of Day: Buy this Stock Now at a Discount

You are receiving this email because you are subscribed to Daily Guru Trades. If you no longer wish to receive these emails, please unsubscribe here. Keep an eye on oversold shares of Nike (SYM: NKE). Not only did it catch support at its 50-day moving average, but it’s also starting to pivot higher from over-extensions on RSI, MACD and Williams’ %R. From its last traded price of $82.45, we’d like to see it initially refill its bearish gap a around $87.50. It also looks like earnings negativity has been priced into the stock, too. In its first quarter, the company’s profit of 70 cents was down from 94 cents year over year. However, it was 18 cents better than estimates. Revenue of $11.6 billion, down 10.4% year over year, missed by $50 million. Again, though, it appears this negativity is now priced in. Helping, analysts at Truist just upgraded NKE to a buy rating with a price target of $97. “The firm notes it has been cautious on Nike since Fall of 2023 and still views a turnaround process as long and uncertain, but adds that it is now ‘more optimistic’ as investor expectations finally seem to accurately reflect this reality,” as reported by TheFly.com. Did you miss yesterday's Chart of the Day? Click here to view it now. DC2 Publishing LLC 4260 NW 1st Avenue Suite # 55 Boca Raton, FL 33431 – 4264 Daily Guru Trades Copyright © 2023 Daily Guru Trades, All rights reserved. You are receiving this email as part of your subscription to Daily Guru Trades. If you have any questions, please contact us at support@dailygurutrades.com. Daily Guru Trades is a newsletter offered to the public on a subscription basis. 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