70% fall from the peak, is NIKE days over ?

Nike, Inc. BATS:NKE

dchua1969

We can see from chart that NIKE has fallen from its glorious days and fallen 70% from its peak in Aug 2021. It is still on a downtrend.

Could Amazon be its saviour for the next 6 months or so, especially Christmas and Thanks Giving Day ?

Excessive inventory build up seems to be clogging the system and drag the revenues down! Not forgetting there are many other brands competing as well. It will take some months/years before we see a decent recovery.

Since I am vested, I will just park this in my garage and monitor on a monthly basis. Not adding more nor selling.

source https://www.tradingview.com/chart/NKE/i4giHC6w-70-fall-from-the-peak-is-NIKE-days-over/