NikeLong
Hedge Fund Managers Buying, so was I
Bill Ackman has been loading the boat on Nike. I did advice you guys to also start loading, whilst all the analysts became bearish and the media outlets spout their usual nonsense. This is the second American super brand, after Starbucks, subject to an activist investor seeing value and exerting pressure on the senior management.
If you refer to my earlier analysis, you will see that I identified Nike as a buy due to a confluence of support : the Fibonacci golden pocket, along with support of the 0.75 Fibonacci Speedfan, amongst other levels.
I don’t intend to hold this for years to come, I suspect nor does Ackman who has previously traded Nike as a swing trade, cashing out a few months lager. My intention is the same here. Whilst this is still not the confirmation of the start of an impulsive move up, and we have only just finished correcting the 5th wave of the grand supercycle, I expect us to rally upwards towards the $90-100 in the weeks to come. I will review the strength of the move later to determine how long I hold this.
Not financial advice, do what’s best for you.
If you refer to my earlier analysis, you will see that I identified Nike as a buy due to a confluence of support : the Fibonacci golden pocket, along with support of the 0.75 Fibonacci Speedfan, amongst other levels.
I don’t intend to hold this for years to come, I suspect nor does Ackman who has previously traded Nike as a swing trade, cashing out a few months lager. My intention is the same here. Whilst this is still not the confirmation of the start of an impulsive move up, and we have only just finished correcting the 5th wave of the grand supercycle, I expect us to rally upwards towards the $90-100 in the weeks to come. I will review the strength of the move later to determine how long I hold this.
Not financial advice, do what’s best for you.
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.