After weaker months, Nike and Puma could be on the verge of a recovery.
$NKE (+0.61%) has delivered a strong technical signal: Following a price target increase by Jefferies to USD 115, the share has jumped above the 200-day line. In addition, the SKIMS collaboration with Kim Kardashian, an important growth area, could strengthen the women's segment. Despite a consumer slump, Nike has historically often recovered quickly.
It too $PUM (-0.54%) could be at a turning point. After significant declines, the share price is historically cheap and a possible bottom could be imminent. In addition, a recovery in demand in China could provide a tailwind.
How do you see the current situation? A trend reversal or just a brief recovery?
