As I have been discussing for the past week, Nike Stock declares its earnings on March 22 and I have waited to set up a trade around those earnings. Nike Stock trades on New York under the symbol NKE.
Nike Stock (NKE) Chart
Heading into earnings Nike stock has had two very good rallies starting in February. The first rally returned 17% starting from the lows of February.
The second rally in Nike Stock (NKE) which started last week has returned 9.4%. Both of these rallies topped out at the $63.00 valuation. You can see in the chart that the $63.00 valuation keeps being sold into by sellers. The earnings may break through that top which would set a break-out in play for the stock.
Momentum has been positive since Feb 25.
Nike Stock (NKE) Trade Alert Heading Into Earnings
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