Nike Could Run in Either Direction
Nike (NKE) stumbled last quarter, but the market has given back all of the market cap it stole after earnings into this quarter. Forgive and forget? The price looks as though a few folks have cold feet heading into the number, but the technicals are showing that Nike may be ready for a bounce.
I anticipate a slightly more subdued reaction this quarter, looking at targets of $92 on the downside and $99 on the upside, and I am leaning slightly toward the downside. When my gut feeling and the charts disagree, I generally head for the sideline....478 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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