NIKE company: contract with the NBA

By | June 11, 2015

NIKE stock (NKE) upside potential after the information on the conclusion of an eight-year contract with the National Basketball Association (NBA). The amount of the contract is estimated at more than $ 1 billion, or about 3% of the annual revenue of the Issuer. The deal is a powerful marketing tool and will strengthen the company’s position in the sportswear market.

The second factor can be a growth of information on the growth of retail sales in the US in May, which exceeded expectations. In particular, retail sales excluding automobiles in the previous month increased by 1% compared to April, the expected growth of 0.7%. Since more than 44% of revenue generated in the United States, increased consumer activity has a positive impact on the company’s earnings.

nike stock chart
Nike stock chart
 Trading analytics  

Support and resistance levels  
Support 1   103
Support 2   103,3
Current price:   103,7
Resistance 1    104
Resistance 2    104,95

NIKE stock (NKE)  –   buy nike   –   Buy from the level of 103.5. The purpose – 104,5, Stop-Loss-102,8

Warning: Profitability in the past does not mean profitability in the future. Any projections are for informational purposes and do not guarantee the results obtained.

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