NIKE - A No Brainer!

Following on from our last analysis of Nike, we are down a further 20%! As explained in the last analysis, Nike is the world's largest supplier of athletic shoes and apparel and a major manufacturer of sports equipment, with revenue in excess of US$46 billion in its fiscal year 2022. The chance of it going bust is incredibly low. Any dips should be considered a buying opportunity.

We are fast approaching the pandemic lows, which is our initial area of interest. Anything below the pandemic levels will provide us an even bigger opportunity to buy!

For confirmation that we've reversed, we can wait for the break of the red trendline. Alternatively, we can slowly build our positions as we move lower.

The move up is inevitable. It's just a question of when!

Goodluck and as always, trade safe!