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Nike Earnings Up Next Traders are looking to shares in Nike today as the company prepares to release Q3 fiscal year 2023 earnings later today. The stock has been under pressure over recent weeks, correcting around 12% lower from YTD highs. However, ahead other earnings release today Nike shares are trading a little higher suggesting there is some optimism over the company’s recent performance.Bullish ViewLooking at the figures for today, the market is forecasting EPS of $0.55 and revenues of $11.5 billion. Given that the EPS forecast is around 30c lower than the last reported results, there is something of a low bar for todays release which might see Nike shares pop higher if results come in above forecasts.The company is reporting on the back of a strong run of ten consecutive quarters of earnings beats. If today’s data also tops forecasts, the stage is set for a nice breakout higher in the stock, particularly with the Fed widely expected to adopt a less hawkish outlook at tomorrow’s FOMC.Technical ViewsNikeThe stock is attempting to breakout above the bear channel which has framed the correction from recent highs. The channel can be viewed as a bull flag, suggesting room for a fresh topside run if bulls can get back above 122.20 near term. Above here 130.92 is the key level to note. To the downside, 115.77 remains key support.
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