October 3, 2019

It Might Be Time To Buy Nike

It is a tough time to buy anything these days and hold overnight. However, I think Nike Inc. (Ticker: NKE) might be one of those names. With a big jump off earnings and a huge slew of upgrades that came through shortly after, investors and the streets are pretty bullish on the company. IF the stock finds support at the $89 price range, I would be very interested in entering a buy signal there. A bounce at support that was previously resistance is a bullish reaction, and that is what I am looking for. The markets conditions say ‘buy the dips and sell the rips” and that is what I plan on doing until we breakout on a trend. For now, value is the play and will remain so. 

about the author:

Charles Moon

Charles Moon is a technical "whiz kid" whose experience lies in scalp/swing trading. A patient educator, Charles excels at coaching/mentoring and can make complex concepts simple. Prior to joining the ranks of Prosper Trading Academy, Charles was a proprietary equities trader with Great Point Capital LLC. Coming from a retail trading background, his experience can help those with no experience trading to seasoned veterans.

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