NKE Swing Idea
- NKE showing strength on a relative basis compared to the S&P 500 index (
SPX) - Strong recent earnings reaction (+8% on earnings day) with new all-time high
- Consumer Discretionary (
S5COND) has been outperforming the SPX on a relative basis while trading above the 200-day moving average (indication of an up-trend)
Solid dip buy opportunity with limited downside risk using 122.50 as a stop.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.