Group 1: Company Overview - Nike Inc. plans to eliminate 775 positions at U.S. distribution facilities as part of its automation initiative, following 1,000 corporate job cuts announced last summer [1][2] - The layoffs primarily affect distribution centers in Tennessee and Mississippi, where Nike has major warehouses [1] Group 2: Industry Context - The decision reflects a broader restructuring trend in the retail sector, with Macy's Inc. also announcing over 1,000 layoffs due to facility closures [2] - CEO Elliott Hill is working to revitalize Nike amid weak sales and declining margins, indicating that the path to recovery may not be straightforward [2] Group 3: Technical Analysis - Nike's stock is trading 1.2% below its 20-day simple moving average (SMA) and 4.6% below its 100-day SMA, indicating a bearish short-term trend [3] - Over the past 12 months, Nike shares have decreased by 16.04%, positioning them closer to 52-week lows [3] - The Relative Strength Index (RSI) is at 53.20, indicating neutral momentum, while the MACD suggests a bullish signal, reflecting mixed momentum [4] Group 4: Price Action and Support Levels - Nike shares were down 2.05% at $63.66, testing the $63.00 support level, with a potential break below this level signaling further declines [5] - Key resistance is identified at $66.50, while key support remains at $63.00 [5]