Nike Stock Analysis: Earnings Report and Key Price Levels to Watch

As Nike (NYSE: NKE) prepares to release its earnings report tomorrow, investors are closely watching the stock’s performance. Nike shares are currently trading around $73.07, with Wall Street analysts expecting an earnings per share (EPS) of $0.29—a 70% decline compared to last year.

Nike’s Earnings Outlook: A Turning Point?

Despite the anticipated drop in EPS, many analysts believe Nike is in a transition phase under its new CEO, aiming to restore the brand's dominance in the sportswear industry. While earnings estimates have been revised lower, this could increase Nike’s chances of beating expectations. In fact, last year, Nike outperformed Wall Street’s EPS estimates for all four quarters, suggesting that the current downturn might be the earnings trough before a growth rebound starting in May.

Stock Chart Analysis: Key Support and Resistance Levels

From a technical perspective, Nike’s stock is holding strong at long-term support dating back to 2015. However, a break below $67 could trigger additional selling pressure, requiring further evaluation.

On the upside, key resistance levels to watch include:

• $82.44 – A breakout above this level could fuel further upside momentum.
• Trendline resistance from 2021 – If the stock clears $82.44, it could rally toward this level.

Additionally, the MACD indicator has turned bullish, signaling increased buying interest in recent weeks, which could support Nike’s stock price heading into the earnings report.

Final Thoughts on Nike’s Stock Performance

Much of the anticipated disappointment in earnings might already be priced into the stock, which could limit downside risk. Investors will be watching for Nike’s revenue growth outlook and future guidance to determine if this is the start of a broader recovery for the sports apparel giant.