Nike Inc. (NKE) is trading higher in pre-market activity Friday as traders react to fiscal second-quarter results that topped earnings and revenue estimates at $0.52 and $9.37 billion (+10% Y/Y), respectively. Online sales were reportedly strong. I did not listen to the earnings call and if there was any new guidance, but I can look at the charts and indicators this morning.
In the weekly bar chart of NKE, below, we can see a bearish alignment for the indicators. Prices are below the cresting 40-week moving average line.
The weekly OBV line has been declining from August and the Moving Average Convergence Divergence (MACD) oscillator is almost below the zero line for an outright sell signal on this longer time frame.