NKE getting close to $100
NKE has cropped up quite frequently on our breakout lists lately. It doesn't have a very linear history (pullbacks tend to be too deep for most risk management structures).
But since breaking above the $80 mark it has offered several opportunities to buy. The October pullback was not too deep, remaining comfortably above the daily 50ma. Once price broke $90 NKE became a better proposition and there were several opportunities to long the stock.
Now, however, price is getting a little close to the $100 figure. This can be a psychological resistance so, unless you feel you can get risk-free on your trade before then, this is a future buy with a current bias to stand aside.
But since breaking above the $80 mark it has offered several opportunities to buy. The October pullback was not too deep, remaining comfortably above the daily 50ma. Once price broke $90 NKE became a better proposition and there were several opportunities to long the stock.
Now, however, price is getting a little close to the $100 figure. This can be a psychological resistance so, unless you feel you can get risk-free on your trade before then, this is a future buy with a current bias to stand aside.
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