Market Analysis: Nike Stock Price Fall by 4%. What Does This Mean?

<img src="https://images.unsplash.com/photo-1509983165097-0c31a863e3f3?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wxMTc3M3wwfDF8c2VhcmNofDV8fG5pa2V8ZW58MHx8fHwxNjg4MDgyOTkxfDA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=2000" alt="Market Analysis: Nike Stock Price Fall by 4%. What Does This Mean?" /><p>Yesterday, NKE&apos;s share price closed above USD 113, but trading today could open below USD 109 per Nike share.</p><p>The reason is in the weak report released by the company. Analysts note a drop in demand for products, which may mean a &quot;wake-up call&quot; for consumption in the US economy, squeezed by tight monetary policy.</p><p>According to finance professor Jeremy Siegel, &quot;it&apos;s hard to see a lot of upside catalysts for the market in the second half of this year.&quot; The AI-driven rally is no guarantee that the US economy, which is made up of more than just tech companies, will not slip into recession.</p><p>The NKE stock chart shows that the price today will fluctuate around the lower border of the rising channel (shown in blue), which is valid in 2023. However, after a series of bounces seen in June, the bears may push through this support line to dominate the down channel (shown in red).</p><figure><img src="https://fxopen.com/blog/en/content/images/2023/06/30j2.png" alt="Market Analysis: Nike Stock Price Fall by 4%. What Does This Mean?" loading="lazy" width="2000" height="1099" srcset="https://fxopen.com/blog/en/content/images/size/w600/2023/06/30j2.png 600w, https://fxopen.com/blog/en/content/images/size/w1000/2023/06/30j2.png 1000w, https://fxopen.com/blog/en/content/images/size/w1600/2023/06/30j2.png 1600w, https://fxopen.com/blog/en/content/images/size/w2400/2023/06/30j2.png 2400w" sizes="(min-width: 720px) 720px" /></figure>