Nike Comes Out to Play

Nike (NKE) will hold its fourth-quarter conference call after the bell today, and it is one of my favorite retailers to read. The company provides a lot of insight on the international markets. Expectations are optimistic here, and I'd say the technicals agree. Although the price is in a bit of a downward channel here, the stochastics and RSI are strengthening.

NKE Daily View Chart » View in New Window »

Options are pricing in about a 5% move, but the past two reports have seen moves more like 10%. Overall, though, there is resistance around $65 and support around $57 on my charts. The biggest risk for the bulls seems to be the potential for a gap-fill lower. If the stock breaks under $58, then a look at a short with a target around $54 has to be taken into consideration here....194 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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