Why $NKE Is a Long Term Buy
$NKE has been of high interest lately. Let’s take a look at the daily chart.
Upon first glance at $NKE on the daily chart, one can notice that the stock has been meandering back and forth along the 200MA, with an unclear direction. But stepping back up a timeframe and taking a look at this stock on the weekly:
One can see that, on the weekly, the chart is very close to the 200MA, and the weekly trend of this chart is clearly going up. If one is considering a longer-term play in $NKE, then buying some shares here and having a stop below the 200MA on the weekly would be a decent choice to take.
Bias: Bullish (Weekly)