NKE shares gapped up today and marked their 3rd consecutive upday. Reclaiming the all-time high @ $103.79 is a question of when, not if imho. The 20-DMA has offered nice support since the beginning of March and could be used as an entry level on new long positions. The short-term trend is up with a pivot point @ Friday’s low ($99.10). Bullish with a stop @ $99.10 on existing longs.
NKE daily chart (2 months):
Chart courtesy of http://www.StockCharts.com
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