After losing a fundamental 'supporter' let's check the charts and indicators.
The shares took another hit today after sinking the past 12 months.
I'm heavily underweight any part of the economy that is dependent on the American consumer. But there are exceptions.
The charts of the entertainment giant are modestly positive before it reports fiscal third-quarter results after Wednesday's close.
There has been no magic in Walt Disney stock and the worst may not be over for the shares should the consumer struggle in a tough economy.
I think the firm is being very conservative in their look forward, carefully and intentionally.
Here's what traders who are still long NKE could continue to do.
Wednesday's down to up move makes trading decisions more complex.
The shares have been more than cut in half in just six or seven months.
Let's see if DKNG could rally from here.