Most consumer discretionary businesses succeed or fail based on the broader economy. This sensitive demand profile can cause discretionary stocks to plummet when macro uncertainty enters the fray,
and over the past six months, the industry has shed 8.3%. This drawdown was worse than the S&P 500’s 2% loss.
Nike shows a bearish trend that began at its peak on November 8, 2021, indicating potential for further declines. On a shorter cycle, the stock’s drop from its October 1, 2024, high is developing as an impulsive Elliott Wave structure.
"Just how much did Marjorie Taylor Greene make when she bought the dip?" Alexandria Ocasio-Cortez asks in the caption of a YouTube video calling for a ban on Congressional trading.
Wall Street is overwhelmingly bullish on the stocks in this article, with price targets suggesting significant upside potential.
However, it’s worth remembering that analysts rarely issue sell ratings, partly because their firms often seek other business from the same companies they cover.
