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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Every week, the coaches at Prosper Trading Academy offer their insight on some of the most challenging questions covering recent stock market developments, trading tips, and relevant news stories. This week, Scott Bauer, Charlie Moon, and Mike Shorr give their thoughts on why certain stock market sectors are staying resilient amid the FOMC fallout, and […]

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Every week, the coaches at Prosper Trading Academy offer their insight on some of the most challenging questions covering recent stock market developments, trading tips, and relevant news stories. This week, Scott Bauer, Charlie Moon, and Mike Shorr cover this week’s CPI report and other future events that could impact the market, along with ways […]

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Every week, the coaches at Prosper Trading Academy offer their insight on some of the most challenging questions covering recent stock market developments, trading tips, and relevant news stories. This week, Scott Bauer, Charlie Moon, and Mike Shorr touch on the best stock market indexes to follow and common issues they notice among struggling traders. […]

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