Nike Inc (NKE) said on Monday that it would open a new 69 000 square feet flagship store at 650 Fifth Avenue in New York in early 2019.
Nike shares closed higher for the fifth time in the past seven trading sessions on Monday. The stock edged up 0.37% ($0.22) to $60.10, with the intraday high and the intraday low being at $60.70 and $59.97 respectively.
In the week ended on December 3rd the shares of the athletic apparel manufacturer added 0.94% to their market value compared to a week ago, which marked a fourth consecutive period of gains.
The stock has pared its loss to 0.53% so far during the current month, following a 9.87% surge in November. The latter has been a second consecutive monthly gain and also the largest one since June.
For the entire past year, the shares of the NYSE-listed manufacturer retreated 18.67%. However, the stock has rebounded 18.24% so far in 2017.
According to a press release by the company, the first four floors of the store are expected to feature “a multi-sport assortment of product innovation and services”.
The lower level will feature Hyperlive, the companys new small-format retail concept, which will present “a curated, data-driven assortment of local essential products, inspired by the sporting heartbeat of the city”.
The fifth floor of the forthcoming store is to be organized as a NikePlus members-only destination, where clients will be granted access to “unique products, experiences and customization opportunities”.
“Our new flagship store is about serving all of our consumers – especially our NikePlus members — with pinnacle innovative products, a unique design and environment and the very best of personalized service”, Heidi O’Neill, President of Nike Direct, was quoted as saying in the press release.
With a simple scan of a particular shoe with their smart phones camera, NikePlus members will instantly access all the items available in their size and preferred color via Nikes app.
According to CNN Money, the 32 analysts, offering 12-month forecasts regarding Nike Incs stock price, have a median target of $60.00, with a high estimate of $71.00 and a low estimate of $42.00. The median estimate is a 0.17% decrease compared to the closing price of $60.10 on December 4th.
The same media also reported that 17 out of 37 surveyed investment analysts had rated Nike Incs stock as “Hold”, while 14 – as “Buy”.
Daily and Weekly Pivot Levels
With the help of the Camarilla calculation method, todays levels of importance for the Nike stock are presented as follows:
R1 – $60.17
R2 – $60.23
R3 (Range Resistance – Sell) – $60.30
R4 (Long Breakout) – $60.50
R5 (Breakout Target 1) – $60.74
R6 (Breakout Target 2) – $60.83
S1 – $60.03
S2 – $59.97
S3 (Range Support – Buy) – $59.90
S4 (Short Breakout) – $59.70
S5 (Breakout Target 1) – $59.46
S6 (Breakout Target 2) – $59.37
By using the traditional method of calculation, the weekly levels of importance for Nike Inc (NKE) are presented as follows:
Central Pivot Point – $59.88
R1 – $61.21
R2 – $62.55
R3 – $63.88
R4 – $65.22
S1 – $58.54
S2 – $57.21
S3 – $55.87
S4 – $54.54
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