NKE Trade on Dec 22, 2023 09:43 from Ihor_Horovenko: Tradervue User Stock Trades.

Thesis: Reports Q2 $1.03 v $0.84e, Rev $13.4B v $13.4Be; Expects softer H2 rev outlook; Announces plan for $2B in cumulative cost savings over the next three years. Gross margin 44.6% v 44%e, +170bps y/y; primarily driven by strategic pricing actions and lower ocean freight rates, partially offset by unfavorable changes in net foreign currency exchange rates and higher product input costs. - EBIT margin 14.2% v 12.5% y/y. Exec: We are seeing indications of more cautious consumer behavior globally; Adjusting channel growth forecasts for rest of FY and stepping up plans to reduce marketpace supply for key franchises; Nike Digital had its strongest Black Friday week ever - earnings call comments - Saw growth of over 20% in trail running portfolio for the quarter - Higher priced products have been resilient in particular.

Stop: Placed my stop-loss below the contraction low.

Entry: I have entered position on a pullback with LMT order.

Targets: end of the 1st and 2nd wave.

Breakeven point: set after 1 minute was in the trade.

Profit taking: slowdown on the tape + consolidation started.

Comments: I could have given 1 minute more for the price to prove that it is not willing to go any further and aim to take profit slightly higher.

Lessons: use timing rules between profit taking.